Ramayana profits up 79%<\/p>\n
JAKARTA (JP): The owner and operator of Ramayana Department
\nstores, PT Ramayana Lestari Sentosa, posted a 79 percent increase
\nin net profit to Rp 61 billion (US$23.01 million) in the first
\nsemester this year from the corresponding period last year.<\/p>\n
The company said yesterday the rupiah's depreciation against
\nthe American greenback over the past few weeks did not have a
\nsignificant impact on the company's performance as it had no
\nexposure to foreign currency debts.<\/p>\n
"The company does not have any dollar loans and Ramayana still
\nhas deposits worth Rp 173 billion in banks," Ramayana's finance
\ndirector Setiasa Kusuma said.<\/p>\n
He said the government's tight monetary policy which brought
\nthe time deposit rate to about 30 percent per annum had benefited
\nthe company.<\/p>\n
"Ramayana has to revise up the interest income to Rp 30
\nbillion from the previously projected Rp 18.5 billion due to
\nhigher rates," the company said.<\/p>\n
Though the rupiah's depreciation had no affect on the company,
\nRamayana did not revise up its net profit this year.<\/p>\n
"Previously we projected the net profit to reach Rp 105
\nbillion this year and we did not revise it up," he said. (aly)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ramayana-profits-up-79-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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