Bakrie enjoys strong sales, but suffers losses in H1

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)