Jakarta. Cable TV and broadband internet provider Link Net reported solid revenue and net income growth in 2016, thanks to a big increase in its residential and corporate costumers.
Link Net's revenue went up 15 percent to Rp 2.95 trillion ($221.02 million), according to its audited consolidated financial statement from Dec. 31. Net income also grew strong by 28 percent to Rp 819 billion. Meanwhile, operating profit went up 20 percent to Rp 1.22 trillion.
"Despite the challenges in macro environment, I am delighted to report that the company was able to deliver a strong growth across all our key deliverables, took full advantage of operating leverages and managed the costs well," Link Net president director and chief executive Irwan Djaja said in statement on Friday (17/03).
The company also maintained healthy margins, with 2016 operating profit at Rp 1.12 trillion representing 38 percent of its revenues.
Meanwhile, Link Net's Rp 819 billion net income represented 28 percent of the revenues.
The number of the company's revenue generating units (RGU) from its broadband and cable television services climbed 15 percent to 1.02 million. Meanwhile, bundled average revenue per user remained at Rp 407,000.
Link Net also continued to expand its network to 153,000 new homes, bringing its services to 1.83 million homes by the end of 2016.
The company, which operates in the greater Jakarta area, greater Surabaya (including Malang) in East Java, Bandung in West Java, Bali, Medan in North Sumatra and Batam, offers high-definition TV and high-speed next generation broadband internet.
It owns and operates a broadband network that combines optical fiber and coaxial cable (hybrid fiber-coaxial cable) and fiber-to-the-home installation (FTTH) providing high-speed internet to retail and business customers.
Link Net also operates a subscription television channel in collaboration with its subsidiary First Media Television.