PT KMI Wire and Cable Tbk projects net profit and revenue growth of 272.73% to Rp164 billion and 45.70% to Rp3.134 trillion this year, respectively.

The 2020 annual report released on Friday (18/6) explained that the planned net profit and revenue growth was higher than the 2020 target of Rp44 billion and Rp2.151 trillion, respectively.

Meanwhile, the realization of financial performance last year was a net loss of Rp74 billion and an income of Rp1.969 trillion.

Management assesses that it determined 2021  following better global and domestic economic prospects than last year, supported by measures to control the Covid-19 pandemic and vaccination programs.

In line with the global recovery, the Indonesian economy is estimated to begin to recover and grow at 4.4% this year.

In addition, the Indonesian Electrical Cable Manufacturers Association (Ap Kabel) projects that non-PLN retail cable demand will increase this year. This estim