JAKARTA: Textile producer PT Pan Brothers Tbk's first-half sales probably rose 20% on rising garment demand on the back of the improving economy, said Finance Director Fitri R. Hartono.The company booked IDR650.99 billion in sales in the first-half last year. The estimated 20% sales growth would equal to IDR781.19 billion. Its net income probably rose 22.61% to IDR12.74 billion in the first-half.Finance Director Fitri explained that the company still focuses to complete its Central Java factory construction. Such construction is expected to complete in the end of next year and will boost the production capacity to 42 million pieces of garment per year, almost doubling from the current capacity of 24.6 million pieces.Our profit is not that high as our factory in Central Java is yet to optimally operate. Probably, the construction will be completed in the first quarter next year. We expect the completion to improve our performance, she told Bisnis yesterday.She added that the company this year has used US$7 million capital expenditure as per June 2011 or 70% of this years budgeted capex. Such fund is used to construct factory, build installations and add 2,900 units of garment making machines for the company and its subsidiaries.Pan Brothers has no plan to seek any loan or issue bonds to fund its expansion, Fitri added. (T02/NOM)
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