Adira Dinamika Multifinance books 2015 net profit of Rp665b
Adira Dinamika Multifinance (ADMF) reported 2015 net profit of Rp665b, down 16% yoy from 2014’s Rp792b. Management attributed the weak performance to slow motorcycle and car sales dragged by weak customer purchasing power. New bookings also dropped 20% yoy to Rp18.6t. However, management is targeting to achieve new bookings of Rp36t in 2016, up 30% yoy. The company has budgeted capex for 2016 at Rp7.0t, out of which Rp5.0t will be funded by a bond issuance and the remainder will come from foreign currency bank loans.