Budi Acid targets profit up 250%

JAKARTA: The yam processor, PT Budi Acid Jaya Tbk is targeting to gain IDR140 billion profit, a 250% increase next year from the predicted profit of IDR40 billion this year.Budi Acid Jayas President Director Santosa Winata said that the target is to
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News Editor - Bisnis.com 22 Desember 2010  |  12:58 WIB

JAKARTA: The yam processor, PT Budi Acid Jaya Tbk is targeting to gain IDR140 billion profit, a 250% increase next year from the predicted profit of IDR40 billion this year.Budi Acid Jayas President Director Santosa Winata said that the target is to respond to market demand for yam, particularly better demand for cassava and weather condition which is expected to improve next year.Cassava is the important constributor to our business, about 70%. We are optimistic that 2011 can be better with greater market demand as well as better weather. The target is not too optimistic, as we also observe next year's condition, he said today.He also targeted sales to grow by 20% to IDR2.5 trillion from IDR2.1 trillion this year.Until third quarter of 2010, the company's income trimmed by 77.11% to IDR24.84 billion from IDR108.53 billion at the same period last year. This condition occurred due to the significant hike on the cost of goods sold compared to the increase in selling price.As per September 2010, net income rose 15.7% to IDR1.48 trillion from IDR1.28 trillion in September 2009. The increase was also accompanied by the 24.29% increase in cost of goods sold IDR1.33 trillion from IDR1.07 trillion.Company's operating expenses also surged 3.17% to IDR72.25 billion from IDR70.9 billion. Furthermore, foreign exchange revenue fell to IDR13.17 billion from IDR42.12 billion. (T05/NOM)

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