Setiabudi reports losses<\/p>\n
JAKARTA (JP): Publicly listed PT Jakarta Setiabudi Property
\n(JSP) suffered a net loss of Rp 148.05 billion (US$17.8 million)
\nin the first semester of 2000 compared to a net profit of Rp
\n125.6 billion in the same period last year in spite of higher
\nrevenue.<\/p>\n
Revenue during the six months amounted to Rp 169.3 billion, up
\nfrom Rp 165.4 billion a year earlier, largely from the hotels it
\noperates.<\/p>\n
The 22.54 percent depreciation of the rupiah between the end
\nof December and June -- Rp 7,100 to Rp 8,700 to the dollar --
\nturned JSP's operating profit into an overall net loss, the
\ncompany said in a statement.<\/p>\n
The rupiah depreciation led to nonoperating costs of Rp 201.3
\nbillion compared to a nonoperating income of Rp 104.6 billion a
\nyear earlier.<\/p>\n
Finance director Sani Kristani told reporters that in spite of
\nthe first semester loss, the company's cash flow remained healthy
\nthanks to the contribution from its four hotel operations --
\nthree in Bali and one in Jakarta.<\/p>\n
The Grand Hyatt Bali, the Bali Hyatt, the Raddin Sanur (Bali)
\nand the Raddin Ancol (Jakarta) together contributed almost 80
\npercent of JSP's overall revenue in the first six months. (02)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/setiabudi-reports-losses-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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