Hero Supermarket's net profit falls

JAKARTA: PT Hero Supermarket, an Indonesian retail concern, announced Monday that its net profit last year fell 8.6 percent to Rp 61.89 billion from Rp 67.89 billion in 2000.

Its sales last year rose 18 percent to Rp 1.989 trillion from Rp 1.692 trillion in the previous year.

But the increase in sales was offset by higher cost of sales, which during the year rose to Rp 1.538 trillion from Rp 1.319 trillion in 2000.

It said its administration and general expenses last year also increased to Rp 352.07 billion from Rp 279.01 billion in 2000, pushing its net operating profit lower at Rp 81.45 billion, compared with Rp 82.65 billion in 2000. -- Dow Jones