MOSCOW (MRC) -- Impack Pratama Industri, a newly listed construction materials and plastic manufacturer, forecasts slower profit growth next year as the company gears up its expansion plans, reported GV.

 

"We're targeting a range of 10 percent to 15 % growth for sales and 10 % for net income," said Lindawati, a director at Impack Pratama Industri, during a press conference in Jakarta on 17 Dec. 2014.

 

Impack Pratama's profit jumped almost 60% to Rp 121 billion (USD 9.5 million) in the first half of the year, compared to Rp 76.4 billion in the same period in 2013. Revenue rose 27% to Rp 696 billion.

 

The company forecasts as much as Rp 290 billion in net income this year, which would reflect a 57% increase from 2013, Lindawati said, adding that revenue is forecast to grow 11% to Rp 1.38 trillion.

 

As MRC informed before, in late 2013, Thailand's PTT Global Chemical (PTTGC) signed a joint-venture agreement with Indonesian state-owned energy company Pertamina to set up a petrochemical complex with an investment of around USd4-5 billion (Bt127 billion to Bt158 billion. Both companies will have a 50:50 stake in this downstream-to-upstream project. They will also sign a deal to market products from the project jointly.

 

Earlier last year, Pertamina signed an agreement to purchase petrochemical products from  PTT Global Chemical. The agreement serves as a pre-marketing strategy for Pertamina and PTT's joint Indonesian petrochemical business. Under the agreement, PTT will deliver at least 5,000 tonnes of polyethylene and polypropylene products each month to Pertamina for sale in Indonesia. 

 

Jakarta-based Impack Pratama Industri first started operations in 1982, when it manufactured products ranging from roofing to building facades. The company primarily serves the domestic market. Around 30 % of its sales are from exports. The company recently went public, offering 150 million of its shares - or 31.04 % of its equity - at Rp 3,800 apiece.