Bayer expects better showing in 2002

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