Bimantara Q1 revenue up 65.6%<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Publicly listed media and telecommunications company PT Bimantara
\nCitra Tbk recorded a decline in profit during this year's first
\nquarter, however its revenue increased significantly.<\/p>\n
Finance Director Diono Nurjadin told reporters on Friday that
\nthe company's profit fell 16.20 percent to Rp 15.072 billion
\n(US$1.59 million) in the January-March period from Rp 17.9
\nbillion in the same period last year, despite a 65.6 percent
\nincrease in revenue.<\/p>\n
"The profit decline was due to foreign exchange losses worth
\nRp 8.4 billion during the first three months of this year," Diono
\nsaid. "By comparison, the company had a foreign exchange net gain
\nof Rp 1.1 billion last year."<\/p>\n
The revenue during the first quarter reached Rp 533.17
\nbillion, as compared to Rp 380.70 billion in the corresponding
\nperiod last year, he said after general and extraordinary
\nmeetings of the company's shareholders.<\/p>\n
Bimantara is the soul owner of PT Media Nusantara Citra, which
\ncontrols a 100 percent stake in Rajawali Citra Televisi Indonesia
\n(RCTI), a 70 percent stake in Global TV, and a major share in
\nTelevisi Pendidikan Indonesia (TPI).<\/p>\n
Diono said MNC, which focused its operation in multimedia and
\nbroadcasting businesses contributed 71 percent to the company's
\nrevenue in the first quarter.<\/p>\n
Diono also said that Bimantara recorded a net consolidated
\nprofit of Rp 199.5 billion in 2004 even though it suffered
\noperational losses of Rp 94 billion.<\/p>\n
The company made a net consolidated profit last year due to
\nthe Rp 182 billion gained from its investment and the Rp 214.6
\nbillion from the restructuring of subsidiary company PT Usaha
\nGedung Bimantara's debt," he said.<\/p>\n
In 2003, Bimantara made a net consolidated profit of Rp 241.8
\nbillion.<\/p>\n
Diono explained the meeting agreed on the management proposal
\nto distribute Rp 161.84 billion as dividends to shareholders.<\/p>\n
The shareholders had an option of obtaining cash dividends of
\nRp 124.80 per share or a combination of 25 shares of subsidiary
\ncompany PT Mobile 8 Telecom per 500 Bimantara shares and cash
\ndividends of Rp 18.72 per share.<\/p>\n
PT Mobile 8 operates in the telecommunications sector
\nproviding CDMA cellular services under the brand name Fren.<\/p>\n
Diono said Mobile 8, which suffered an operational loss of Rp
\n369 billion, earned Rp 109 billion in revenue during the first
\nquarter of this year, by far higher than rp 8.6 billion in the
\nsame period last year. (001)<\/p>",
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