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Rukun Raharja 2015 Revenue Seen to Reach US$245 Million
January 08, 2015

StockWatch (Jakarta) - PT Rukun Raharja Tbk (RAJA) is expected to book a revenue of US$245 million in 2015, rises by 22.5% compared to its 2014 revenue target of US$200 million. While, the company’s earnings are predicted to grow by 12.5%at US$9 million compared to its 2014 target of US$8 million, said Willinoy Sitorus, the analyst of Trimegah Securities. He explained, the revenue estimation is supported by gas prices increase and gas sales volume hike in this year. The company plans to expand its business by constructing 20 kilometers gas transmission pipeline in Gresik, East Java. The pipeline will distribute 15 million metric cubic feet per day (MMSCFD) to PT Perusahaan Listrik Negara (PLN). “The gas distribution to PLN owns potential to boost the company’s revenue in this year,” he informed in a written research report published in Jakarta on Wednesday (7/1). In addition, according to Willinoy, the company also develops a gas pipeline in Tanjung Jabung, Jambi that will distribute 5 MMSCFD. RAJA intends to distribute 12 MMSCFD in Karawang, West Java, and 20 MSCFD in Semarang. While in Bali and Balikpapan, East Kalimantan, RAJA will also distribute 10 and 20 MMSCFD, respectively. As of September 2014, RAJA recorded a revenue of US$145.54 million, increased by 40.78% compared to US$103.38 million at the same period in a year earlier. The companys profit grew by 24.69% to US$6.11 million from US$4.90 million. Willinoy recommends buy to RAJA stock with a price target of IDR2,200 per unit. It is a 35.8% higher than its price on Tuesday (6/1). In the first trading session today at the Indonesia Stock Exchange (IDX) on Wednesday (7/1), the stock price records of IDR1,650 per share, raises by IDR30 compared to a previous day. (konrad/abr)