Indonesia"s IPC posts 45,9% Rise in Q1 ProfitIndonesia Port Corporation II (IPC) reported a 45,9 percent increase to US$54,3 million in net profit in the first quoarter of 2012, reflecting continued growth for the port operator in the fast growing Asia Pacific region due to an increase in traffic at the 12 ports it manages across Indonesia.
IPC posted revenue of $138,3 million revenue in the first quarter of 2012, a 42 percent increase from $97,4 million in the same period last year.
Revenue was derived from shipping services, goods services, tools provision, terminal services, container terminal services, land-building-water-electricity provision, miscellaneous facilities and partnerships with business associates.
IPC continues to focus on long term sustainable growth ny investing $38,9 milliom in the first quarter of 2012, acounting for 8,32 percent of the company"s total investment budget of $468,7 million for the year.
"IPC is and will continue to invest significantly to improve port facilities and services, attracting bigger vessels to our ports and reducing Indonesia"s logistic cost. In doing so, we will create a regional port hub to serve a growing economy in Indonesia, Asia and the world," said R J Lino, president director of IPC. (cargonewasia)
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