Bayer expects better showing in 2002

JAKARTA: Publicly listed firm PT Bayer Indonesia experienced a sharp decrease in its net income last year, but expects a better showing this year on the improved business climate in the country.

"Although risks remain on the sustainability of economic recovery, we expect for 2002 a solid increase in income and sales," Hans-Josef Schill, Bayer's president director, said during the company's annual shareholders meeting over the weekend, in a press release.

In 2001, the company's net income declined to Rp 23.2 billion (around US$2.8 million) from Rp 52.8 billion a year before due to an unfavorable business climate and continued weakening of the rupiah.

However, the company posted a 9.2 percent increase in total sales from Rp 667.5 billion in 2000 to Rp 728.9 billion last year. --JP