Indonesia-based steelmaker PT Krakatau Steel expects its net profit to reach IDR 941.4 billion ($62.54 million) for the first half this year, increasing by 89.6 percent compared to the same period last year, according to media reports.
In the given period, the company’s steel production is expected to total 1.11 million mt, up by 10.2 percent year on year, while its steel sales are expected to increase by 10.5 percent year on year to 1.09 million mt. The increase in the sales volume was supported by sales of downstream steel products. Krakatau Steel’s sales volume of downstream steel products rose by 206 percent year on year to 14,400 mt in the first half this year.
