Enseval's profit surges

Enseval's profit surges

JAKARTA (JP): PT Enseval Putera Megatrading, a trading company listed on the Jakarta Stock Exchange, reported a surge in its after tax profit to Rp 18.44 billion (US$8.2 million) in 1994 from Rp 2.23 billion in 1993.

The company's president, K.A.I. Selomulyo, said after the firm's annual shareholder meeting here Friday that last year's profit was 8 percent lower than the Rp 20 billion promised by the company last year in its prospectus for going public.

The company will distribute dividends of Rp 80 per share to shareholders from the profit.

Selomulyo also said the company's sales revenues increased to Rp 499 billion in 1994 from Rp 137.34 billion in 1993.

The company's finance director, Lauw Lie Hung, said that the company will issue 54 million bonus shares, which will be distributed to existing shareholders on the basis of nine bonus shares for 10 old shares. (32)