Dua Putra to Maintain Double-Digit Growth in 2017 i

Dua Putra Utama Makmur, a listed fishery company, projects revenue to grow by a third and net income by a fifth next year, as it increases production and expands to new export markets. (Antara Photo/Irwansyah Putra)

By : Rausyan Fikry | on 1:20 PM December 27, 2016
Category : Business, Corporate Updates

Jakarta. Dua Putra Utama Makmur, a listed fishery company, projects its revenue to grow by a third and net income by a fifth next year, as it increases production and expands to new export markets.

Dua Putra expects its revenue to rise 25-30 percent from an estimated Rp 900 billion ($67 million) this year. Net income will also increase 15-20 percent in 2017 from Rp 90 billion this year, Dua Putra corporate secretary Imelda Feryani said during the weekend.

"Increasing production is supported by new cold storage and production facilities," said Imelda.

Dua Putra raised Rp 919 billion in an initial public offering last year and borrowed some more from banks to finance its expansion. Throughout the year, it also has doubled the number of its employees to 2,000.

Dua Putra seeks to explore new export destinations, including the United States, Bahrain and India, with an aim to have new export markets contribute about 40 percent of its total revenue, Imelda said.

Currently the company sells its products locally and to China, Japan, Malaysia, Thailand, Vietnam and Singapore.

Dua Putra booked Rp 650 billion in revenue in the first nine months this year, up 34 percent from the same period last year. Net income was Rp 82 billion, up 39 percent.

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