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Kimia Farma targets sales to be IDR3.5 trillion

JAKARTA: PT Kimia Farma Tbk, a Jakarta-based pharmacy company, set a sales target at IDR3.5 trillion this year, increasing 12.9% from IDR3.1 trillion in 2010.Kimia Farma President Director Syamsul Arifin sounds optimistic to reach the target, considering

JAKARTA: PT Kimia Farma Tbk, a Jakarta-based pharmacy company, set a sales target at IDR3.5 trillion this year, increasing 12.9% from IDR3.1 trillion in 2010.Kimia Farma President Director Syamsul Arifin sounds optimistic to reach the target, considering three supporting factors, i.e. the pace economic growth, increasing state health budget, and the companys new product development programs.The performance in 2011 will be much better than that of last year. In addition, profit margin improves on weaker dollar, making base price also falls, he said in a public expose yesterday.Through April 2011, the companys sales grew 16% compared to that of the same period last year. Net income also rose to IDR47 billion from IDR36 billion, he added.He said that sales would usually climb significantly in the fourth quarter, in line with payment from the government.The company allocates capital expenditure of IDR105 billion to IDR150 billion this year, surging from IDR35 billion set in the previous years.The company, as Syamsul added, will make three corporate actions this year, including creating a joint venture with Chinese company Tian Jin King York in building an injection factory and hospital solution in Indonesia with investment as much as IDR216 billion.Both parties are negotiating the composition of ownership but Syamsul expects that Kimia Farma can control 40% to 51% shares.In the meantime, the company will increase shares up to 51% in pharmaceutical product exporter PT Sinkona Indonesia Lestari (SIL), aiming at developing capacity of the factory. Kimia Farma prepares IDR20 billion to IDR25 billion for the expansion.The company also will partner with Malaysian company Averroes to build three drug stores in the country. (T04/NOM)

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