Ometraco's profit up 22%<\/p>\n
JAKARTA (JP): Publicly listed conglomerate PT Ometraco
\nCorporation's 1996 net rose 22 percent from Rp 54.4 billion in
\n1995 to Rp 66.3 billion (US$27.3 million) last year.<\/p>\n
The company's financial services division contributed most of
\nthe profit growth with a 77 percent increase in pretax profit,
\nwhile the infrastructure division had a bad year.<\/p>\n
\"Several infrastructure business lines were affected by the
\nstate electric authority's unexpected policy of reducing its
\npurchases to a minimum level,\" the company said.<\/p>\n
But the company said the impact of this was cushioned somewhat
\nby its extensive performing customer base.<\/p>\n
Ometraco, which is 65 percent owned by the Santosa family,
\ndeals in financial services (banking, multifinance and
\ninsurance), consumer products (integrated meat products and
\nconsumer foods), and infrastructure (equipment for the power and
\ntelecommunications industries). (rid)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ometracos-profit-up-22-1447893297",
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"sponsor": "Okusi Associates",
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