Astra Otoparts falling short

JAKARTA (JP): Publicly-listed car component maker PT Astra Otoparts earned a net profit of Rp 127.02 billion (US$13.37 million) between January and November, Antara said on Monday.

The news agency, quoting the company's latest financial report submitted to the Jakarta Stock Exchange, said the company is not likely to achieve the Rp 160.28 billion net profit it made in the entire 12 months of 1999.

Sales during the first 11 months surged to Rp 2.05 trillion compared to Rp 1.56 trillion for the whole of 1999, and gross profit reached Rp 450.10 billion between January and November against Rp 316.3 billion in all of 1999.

But the company saw the "other income/expense" category in its profit and loss account turn from a Rp 82.22 billion surplus in 1999 into a deficit of Rp 53.47 billion in the first eleven months of 2000, thereby more than canceling the gains it had made from its main business operation.

Antara did not detail the expenses that fell in the "other income/expense" category. (05)