Wednesday, April 16, 2008
Merck Posts 12.23% Profit Increase
Source: The Jakarta Post

Publicly listed PT Merck Indonesia, a local unit of the German-based pharmaceutical giant, reported a 12.23 percent increase in its net profit last year with higher sales.

The company recorded Rp 89.48 billion (US$9.73 million) in net profit last year, up from Rp 86.53 billion in 2006, Vice President Director Koesdianto Setyabudhi said Tuesday, adding sales rose to Rp 547.23 billion from Rp 487.60 billion.

According to Koesdianto, the pharmaceutical market in the country is expected to grow by around 9 percent annually in the next five years, in line with similar growths throughout Asia.

"The Indonesian pharmaceutical industry is the biggest in Southeast Asia, with a 9.2 percent growth," he said.

He said Merck had allocated around Rp 10.82 billion in capital expenditure for developing new business and the purchase of new production machines.

Merck is 73.99 percent owned by Merck Holding GmbH of Germany, 4.67 percent by Merril Lynch, Pierce, Fenner and Smith Securities Account, 3.46 percent by DBS Vickers Limited of Hong Kong, 3.20 percent by Rainbow Fund LP and 14.68 percent by the public.