January 13, 2009
Indonesian CP Prima predicts US$784 million in '09 shrimp sales
Indonesian shrimp exporting company PT Central Proteina Prima (CP Prima) is predicted to chalk up US$784 million in sales this year, up 8.5 percent from 2008.
Samuel Sekuritas analyst, Ike Rahmawati said CP Prima was forecast to post a 163.7 percent in net profit to RP451 billion (US$9.2 billion) this year from RP171 billion (US$3.57 billion) in 2008.
Rahmawati said the company was expected to increase sales despite a slight decline in demand predicted this year.
She said CP Prima may delay revitalisation programmes for its shrimp breeding subsidiaries PT Dipasena Citra Darmaja and PT Aruna Wijaya Sakti, but the delay may contribute to prop up demand.
The company will cut exports by 10 to 15 percent to the US, which has been the destination for around 58 percent of its shrimp exports every year.
