Bimantara Citra performs well, increase profit<\/p>\n
JAKARTA (JP): Publicly-listed PT Bimantara Citra has reported
\nan 80 percent increase in its net consolidated profit for the
\nfirst nine months of this year, to Rp 80.99 billion (US$35.4
\nmillion) from Rp 45.05 billion in the corresponding period of
\n1994.<\/p>\n
Finance Director Kadir Assegaf said yesterday the net profit
\nin the January-September period exceeded the net income of Rp
\n54.96 billion booked for the whole of 1994.<\/p>\n
He attributed the sharp increase in the income to a
\nsignificant contribution from the company's broadcasting and
\ntransportation arms, its most lucrative lines of business.<\/p>\n
Bimantara and its subsidiaries, majority-owned by President
\nSoeharto's son Bambang Trihatmodjo, are involved in business
\nactivities including television broadcasting, telecommunications,
\ninfrastructure and financial services.<\/p>\n
Kadir said that the group's media and broadcasting division,
\nnow comprised of only PT Rajawali Citra Televisi Indonesia
\n(RCTI), contributed 38.21 percent to total earnings in the first
\nnine months of this year. The transportation and automotive
\ndivision contributed another 23.53 percent and the chemicals
\ndivision about four percent.<\/p>\n
He said that the earning contribution from the other six
\nbusiness lines, including telecommunications, infrastructure,
\nproperty and financial services, remained insignificant because
\nmost of them were still in the construction stage.<\/p>\n
The business group listed 200 million of its shares on the
\nJakarta and Surabaya stock exchanges in July this year.<\/p>\n
\"I am sure that in the next five years, the earning
\ncontribution from the broadcasting division will be surpassed by
\nthose from the infrastructure and telecommunications sectors,\"
\nKadir said<\/p>\n
He added that RCTI's earnings surpassed their projected level
\nin spite of the growing competition from the four other private
\ntelevision stations.<\/p>\n
He said that RCTI's share in the television advertisement
\nmarket was initially projected to decline to 35 percent this
\nyear, from 48 percent in 1994, as a result of the tighter
\ncompetition.<\/p>\n
\"But the decline was much smaller than our estimate and we are
\nhappy to see that RCTI still controlled about 39 percent of the
\nmarket in the January-September period,\" he said.<\/p>\n
The broadcasting and transportation division's earnings would
\nfurther support the group's consolidated profit in the fourth
\nquarter, given the promising prospects in the market, he said.
\n(hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bimantara-citra-performs-well-increase-profit-1447893297",
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