50% Net Profit 2017 Link Net Is Shared As Cash Dividend

INDUSTRY.co.id - Jakarta - Shareholders of PT Link Net Tbk (LINK), a provider and operator of high-speed broadband connection services in Indonesia, at the Annual General Meeting of Shareholders approved the distribution of final dividends for the fiscal year 2017 totaling Rp353.6 billion (Rp119, 64 per share). The final dividend will be paid on May 15, 2018.

"The Company previously had distributed an interim dividend of Rp150 billion (Rp50.75 per share). So, the total cash dividend of the company for the fiscal year 2017 reached Rp503, 60 billion, or about 50% of net profit 2017 LINK of Rp1 trillion," said Marlo Budiman, Director of LINK, after the AGM in Jakarta, Thursday (12/04/2018).

Marlo also said that LINK's management targets revenues of between Rp3.84-3.88 trillion, or an increase of 13-14% compared to the actual revenues in 2017 of Rp3.4 trillion.

"Therefore, the company will allocate funds for capital expenditure (capex) this year between Rp1-1.2 trillion. The fund will be used to finance the addition of 180,000 homepasses this year," said Marlo.

Meanwhile, Timotius Max Sulaiman, Finance Director of LINK, said the addition of homework done this year to support the company in reaching 65,000-70,000 new residential customers.

In addition, according to Timotius, the company's capex is used to finance the capacity of PT Java Backbone which has just been acquired by LINK to help market penetration to several cities in Java that enter into Java Backbone network this year.

"About 86 percent of the company's revenue target this year is expected to come from residential customers and the rest from the corporation. The company's net profit target this year is also in line with revenue target of 13-14%," added Timothy. (Abraham Sihombing)