AKR Corporindo Tbk (AKRA) targets revenue growth in 2019 to rise by 15%

STOCK MARKET - JAKARTA. PT AKR Corporindo Tbk (AKRA) targets revenue growth in 2019 to rise by 15%. One of the Kompas100 index constituents is optimistic that the domestic demand for fuel oil (BBM) continues to grow.

Last year, AKRA successfully booked an increase of 28.76% in revenue to Rp. 23.55 trillion. Net profit rose 33.33% to Rp 1.64 trillion.

AKRA Director Suresh Vembu revealed that the prospect of AKRA's performance this year is still quite confident. "We plan to increase revenue by around 15%," Suresh said to Kontan, Wednesday (20/3).

AKRA's primary source of income this year will still come from domestic fuel sales. AKRA is optimistic because it believes that Indonesia's economic growth is in the range of 5% -5.5%.

"Now AKR is also working with British Petroleum for the retail market so that there will be an increase in volume. From there, there will be an increase in revenue of 15%," he said.

As an illustration, last year, most of AKRA's revenue sources came from trade and distribution of fuel which rose 42.60% to Rp. 17.14 trillion. Revenues from sales of basic chemicals and other materials rose 16.52%. Storage tank rental income, slightly up (3%) to Rp. 279.48.

Conversely, the decline in revenue occurred in the logistics business (-1.61%) to Rp. 594.66 billion. The same goes for the manufacturer's revenue which fell 5.3% to Rp 507.47 billion.