TBIG's net profit up 31%

August 02, 2012, 11.33 AM | Reporter: Edy Can

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JAKARTA. Telecommunication tower operator PT Tower Bersama Infrastructure (TBIG) reported a 31 percent growth in its net revenue in the first half of the year, thanks to the country’s growing telecommunications business.

TBIG booked Rp 282.91 billion (US$29.87 million) in the first half of the year, increasing from Rp 215.86 billion in the same period last year.

The increase in net profit was supported by growing revenue by 47 percent to Rp 647 billion during the January to June period of the year, compared to Rp 516 billion in the same period last year.

As of the end of June, TBIG has 3,959 telecommunication towers, 1,040 shelter-only sites and 417 DAS networks, serving 8,584 tenants.

"We added 904 tenants in the second quarter, all through organic growth," TBIG finance director Helmy Yusman Santoso told reporters at a fast-breaking event on Wednesday evening.

He added that the company expected to have 2,500 new towers, which were recently acquired from PT Indosat, in the third quarter of the year.

Shares in TBIG were closed at Rp 4,050 apiece on Wednesday, marking a 100 percent increase compared to its price during an initial public offering held in late 2010. (Raras Cahya Fitri/ The Jakarta Post)