Show Consistent Performance in 2017, MPMX's Main Profit Grows Up To 16 Percent
By : Hariyanto And Aldi Firhand. A | Monday, April 09 2018 - 20:04 IWST
Motor vehicle industry
INDUSTRY.co.id - Jakarta - PT Mitra Pinasthika Mustika Tbk (MPMX) Indonesia's smart mobility company announced a 16% increase in primary profit, and a 6.6% increase in net profit to Rp 384 billion, resulting from better cost leadership initiatives and productivity from children its main endeavor.
At the same time, the Company experienced sales of 2W and 4W products that were slower than expected resulting in lower revenue. The Company's revenue reached Rp 16.1 trillion, down 3.1% for the financial year ended December 31, 2017.
Rudy Halim, Group Chief Executive Officer of MPM explains 2017 is a dynamic and challenging year for MPMX. Apart from the challenges faced, especially in the first half of 2017, the Company is responding wholeheartedly and still generating positive growth.
"We consistently ensure key factors in operations that are cost leadership, productivity improvements and positive growth of operational cash flow, are implemented continuously and sustainably Looking ahead, we have also launched a new business model that we expect to make the transformation in business of the Company as a whole and simultaneously improve the Company to the next stage in the next 2-3 years. We are very eager to find new 'S-curve' for
MPM. "Rudi said.
Other important things for the Company in 2017 include some corporate actions taken to develop company value on all fronts. The success of the 20% divestment of MPMFinance shares in April, refinancing the Bonds with Club Deal arranged through 8 banks in September, and interim dividend payments of Rp 105 / share as a result of the AGM's Extraordinary AGM approval in October.