Bakrie enjoys strong sales, but suffers losses in H1

JAKARTA (JP): The publicly-listed PT Bakrie & Brothers enjoyed stronger sales in the first half of this year, but still suffered a net loss of Rp 187.3 billion (US$21.87 million).

The first-half net loss, however, was much smaller when compared to the Rp 1.8 trillion loss for the same period last year.

"The loss was mainly caused by rising operating costs and the weakening of the rupiah as we still have to import raw materials," Bakrie & Brothers Corporate Communications Manager Lalu Mara Satriawangsa told The Jakarta Post by telephone yesterday.

The company's net sales in the first half of this year increased by 28 percent to Rp 847.4 billion from Rp 664.2 billion in the first quarter of 2000.

Satriawangsa also said that Bakrie & Brothers booked a net profit before tax of Rp 13.3 billion in the first quarter of 2001.

The group's core concerns booked income before cost of sales and operating expenses of Rp 59.6 billion from January to June 2001, up from Rp 19.7 billion over the same period last year.

"The performance of the company's core business enterprises greatly helps its (Bakrie & Brothers) cash flow," Satriawangsa said.

Bakrie & Brothers' core businesses include infrastructure, telecommunications and agribusiness.

With the exception of PT Trans Bakrie, which still suffered a net loss of Rp 3.3 billion, other Bakrie & Brothers' core businesses recorded profits in the first six months of 2001.

PT Bakrie Tosanjaya, a business unit operating in the automotive components sector, recorded income before cost of sales and operating expenses of Rp 8 billion, up from a loss of Rp204 million in 2000, PT Bakrie Pipe Industries' income rose from Rp 3.4 billion to Rp 19.9 billion, while PT Bakrie Building Industri recorded a profit of Rp 7.7 billion, down from Rp 8.9 billion last year.(03)