JAKARTA. PT Citra Tubindo Tbk (CTBN), an service and facility provider for oil and gas industry, posted net profit of USD 18.46 million within the first nine months (9M) of 2024.

Said number increased 59% year-on-year (yoy) compared to net profit in the same period last year, in which CTBN only scored USD 11.6 million.

According to IDNFinancials data, CTBN’s net profit surge was propelled by solid revenue, hitting USD 168.66 million in 9M 2024 or up 13% yoy from USD 149.22 million in 9M 2023.

Export sales and services of CTBN remained as primary contributors of revenue in 9M 2024, with contribution of USD 114.37 million. Then, domestic sales and services brought in USD 49.34 million, followed by inter-segment sales and services of USD 267 thousand.

For the record, CTBN is targeting revenue to reach USD 291.44 million this year, in line with its Company Work and Budget Plan of 2024. Meanwhile, for its net profit, the company aims to secure USD 19.69 million.

Fajar Wahyudi, President Director of CTBN, said that the target will be attainable through strengthening export market and user portfolio following its expansion success in the Middle-East and Africa.

“We will continue to maintain growth momentum in 2023 and sustain it until 2024,” said Wahyudi. (KR/ZH)