Bakrie reports higher profits

JAKARTA (JP): PT Bakrie & Brothers yesterday reported that its net profits had grown by 32 percent to Rp 20.7 billion (US$8.5 million) in the first three months of the year.

The company said in a statement that it had booked profits of Rp 15.7 billion in the same period of last year.

"The telecommunications division contributed a net profit of Rp 5.4 billion, infrastructure-related businesses Rp 4.2 billion, and plantations Rp 3.4 billion, while strategic investment produced Rp 7.6 billion," said the statement.

The company said that the firm's revenues increased by 41 percent to Rp 300.6 billion in the January-March period from Rp 212.8 billion in the same period last year. (kod)