JAKARTA–-PT Apac Citra Centertex Tbk is projecting the decline of revenue as much as 8.16% to be US$192 million or IDR1.8 trillion this year following the decline in selling price.
Finance Director Apac Citra Anas Bahfen revealed during last year it posted revenue amounting to IDR1.96 trillion, up 13.5%, compared to the year before his IDR1.72 trillion.
This year, he expects the company's revenues will decline, following the fluctuations of global cotton price which will reflect in the decline of selling price. "We expect this year prices will decline about 10% -15%," he said in last week's public exposure.
Due to fluctuations in cotton prices in recent years which triggered by the economic crisis of Europe, the company has posted net losses for at least 3 years in a row until last year.
(T03/aph)
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