Cahaya Kalbar profit soars

Cahaya Kalbar profit soars

JAKARTA (JP): Newly-listed PT Cahaya Kalbar, the largest
producer of specialty fats, booked a net profit of Rp 9.2 billion
(US$3.9 million) for the first half of this year, compared to Rp
1.6 billion gained in the same period of last year.

Cahaya Kalbar's corporate secretary, Robertus Sampara Lie,
said yesterday that before the initial public offering of its
shares last July, the company projected to make a profit of Rp 6
billion in the first half of the year.

"The higher than expected profit was contributed by the 340
percent increase in our sales revenue," Lie said.

He explained that Cahaya Kalbar's total revenues surged to Rp
50 billion in the first six months of the year from Rp 11 billion
in the same period of 1995, partly due to the consolidation of
its subsidiary PT Inticocoa Abadi Industri.

The speciality fats produced by the company are widely used as
a substitute for cocoa fats in the production of chocolate.

Cahaya Kalbar listed its shares on the Jakarta Stock Exchange
on July 9. The shares are currently traded at a price level with
a price earning ratio of 5.79 times.

The company's profit margin increased from 14 percent in the
first half of last year to 18 percent in the same period of this
year.

Lie also said that for the whole of this year, the company
expects to gain Rp 12 billion in profit. (alo)