Ramayana profit drops 43 %: Report<\/p>\n
JAKARTA : PT Ramayana Lestari Sentosa, one of Indonesia's largest
\ndepartment store operators, Wednesday reported a 43 percent fall
\nin first-half net profit to Rp 84.69 billion, due to foreign
\nexchange losses and a decline in interest income.<\/p>\n
Ramayana posted net profit of Rp 147.41 billion a year
\nearlier.<\/p>\n
Interest income decreased to Rp 34.84 billion from Rp 41.19
\nbillion. The company also booked foreign exchange losses of Rp
\n16.96 billion, swinging from foreign exchange gains of Rp 69.91
\nbillion a year earlier.<\/p>\n
It didn't provide further comment on its performance.<\/p>\n
Analysts said Ramayana is cash-rich and is parking excess
\nfunds in time deposits. Consequently, declining interest rates in
\nIndonesia's dragged down the company's interest income.<\/p>\n
The company's assets expanded to Rp 2.06 trillion from Rp 1.63
\ntrillion.<\/p>\n
Sales rose to Rp 1.25 trillion from Rp 971.61 billion in the
\nyear-ago first half, boosting gross profit to Rp 346.07 billion
\nfrom Rp 254.63 billion, and operating income to Rp 78.27 billion
\nfrom Rp 75.07 billion.<\/p>\n
This means that on the operating level, the company grew
\nduring the first half compared with the same period last year. --
\nDow Jones<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ramayana-profit-drops-43-report-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}