50% market share of ultra high-temperature (UHT) milk company, PT Ultra Jaya Milk Industry Tbk (ULTJ, Rp4.750) create a joint venture in manufacturing and wholesale of instant drink with Japanese company called ITO EN. ULTJ which has a 60% share of the tea UHT' market intend to focus on the consumer sector which is dependable and great growth potential.
ULTJ will have a 55% stake in the company manufacturing but only 45% in wholesale trade. Both are targeted for completion in September 2013. Revenues in 2013 is predicted to reach Rp460 billion and rise 30% YOY and became the regional F & B company with the greatest growth. Issuers also have abundant cash, more than Rp590 billion in the quarter I/2013.
Currently, the ULTJ shares has been transaction at price to earnings ratio (PE ratio) of 2013 and in 2014 is 35x-25.4x.
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