Bakrie & Brothers back in the black<\/p>\n
JAKARTA (JP): Publicly listed holding firm Bakrie & Brothers
\nreturned to the black during the first quarter of this year, the
\nresult of a decline in the company's bank interest costs and
\nforeign exchange losses.<\/p>\n
The widely diversified business group said on Friday its
\nconsolidated operating income rose 200 percent to Rp 20 billion
\nin the first quarter of this year from Rp 6.6 billion over the
\nsame period last year.<\/p>\n
\"The key factors to the steep growth were the fall in the
\ncompany's interest expenses and foreign exchange losses,\" the
\ncompany said in a statement.<\/p>\n
The company's interest expenses plunged 75 percent to Rp 38.9
\nbillion in the January-March period, down from Rp 160.2 billion
\nin the same period last year, the company said.<\/p>\n
The company, which suffered a foreign exchange loss of Rp 278
\nbillion in the January-March last year, booked a gain of Rp 94.5
\nbillion from its foreign currency management during the first
\nquarter of this year.<\/p>\n
\"As a result, pretax profit rose to Rp 39.8 billion during the
\nfirst quarter as compared to a loss of Rp 547.9 billion over the
\nsame period in 2000,\" the company said.<\/p>\n
During the first quarter this year, operating income from the
\ncompany's infrastructure division was Rp 800 million, compared to
\na loss of Rp 8.5 billion in the same period last year.<\/p>\n
\"In the telecommunications sector, operating income rose to Rp
\n17.4 billion in 2000, a 141.6 percent increase from the Rp 7.2
\nbillion in 1999,\" the company said.<\/p>\n
In the agribusiness sector, however, operating income fell 11
\npercent to Rp 7.2 billion in 2000 from Rp 8 billion in 1999, the
\ncompany said.<\/p>\n
The company also said overall net sales rose significantly to
\nRp 394.2 billion last year, an increase of 31 percent from the Rp
\n300.2 billion in 1999.<\/p>\n
\"This increase was contributed to by the infrastructure,
\ntelecommunications and trade sectors, which are not among our
\n'core businesses,'\" the company said. (03)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bakrie-brothers-back-in-the-black-1447893297",
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