Hero's net profit drops 71.4%

Hero's net profit drops 71.4%

JAKARTA: Publicly listed retailer PT Hero Supermarket
announced on Friday that its net profit in the first quarter of
this year dropped by 71.4 percent to Rp 4.3 billion (US$497,109)
compared to the same period last year.

In a report to the Jakarta Stock Exchange, the company said
the fall in net profit was attributed to rising sales costs from
Rp 416 billion last year to Rp 495 billion.

Hero said sales revenue increased slightly to Rp 622 billion
in the first quarter from Rp 541 billion in the same period last
year.

Operating costs jumped to Rp 121 billion from Rp 109 billion.
-- JP

Timah posts sharp increase in profit

JAKARTA: State-owned mining company PT Timah announced on
Friday that its first quarter net profit soared sharply to Rp
27.1 billion (US$3.1 million) from Rp 1.1. billion in the same
period last year on cost-cutting measures and the higher price of
tin.

The average price of tin in the quarter was about $4,010 per
ton, or a 14.56 increase from the average price level from the
same quarter last year.

The publicly listed company said sales volume in the quarter
soared by 82.85 percent to 14,717 tons, while revenue increased
by 75.7 percent to Rp 424 billion. -- JP

P&G Indonesia teams up with DNR

JAKARTA: Consumer goods maker PT Procter & Gamble Indonesia
(P&G) appointed PT Dos Ni Roha (DNR) as the new distributor of
the company's goods for Greater Jakarta and West Kalimantan, a
company press statement said on Friday.

The company said that DNR had invested about Rp 6 billion
(US$639,641) to expand its distribution facilities.

P&G, which operates in 160 countries, markets such well-known
products in Indonesia as Pantene, Rejoice, Head & Shoulder, Olay,
Vicks F-44, Vicks Vaporub, Vicks Inhaler, Whisper and Pampers.

P&G generated sales of $40 billion worldwide last year. -- JP

GM April sales off 9%

DETROIT, Michigan : General Motors Corp. said its April sales
were off nine percent year-on-year to 400,687 units, although its
sales mix skewed heavily towards its profitable truck lines.

GM truck sales (244,965) were up 2 percent over a year ago,
while car sales in April (155,722) were down 22 percent from the
year-ago level.

Luxury car sales were also a bright spot: sales of Saab were
up 39 percent, while GM's revamped Cadillac brand was also
showing some traction, with sales up 15 percent.

"Both GM and the industry had a solid month in April, despite
some hesitation in consumer attitudes," said John Smith, group
vice president of GM North America sales and marketing. "Sales of
GM luxury vehicles, large pickups and large utilities were strong
even with the exceptionally competitive environment."

GM's 2003 second-quarter production forecast for North America
remains unchanged at 1.39 million units, off from 1.55 million
vehicles in the second quarter of 2002. --AFP

Unilever sees profits surge 45%

ROTTERDAM, The Netherlands : Food giant Unilever boosted net
profits by 45 percent in the first quarter, but sales slumped by
17.0 percent, the company said on Friday.

Net profit by the Dutch-British group amounted to 637 million
euros (US$707 million) on the basis of current exchange rates
from 441 million euros in the first quarter of last year.

The group, which has been restructuring since 2000, said that
business at the beginning of the year had been slower than it
expected.

But it stood by a forecast in February signaling that net
earnings per share before allowance for exceptional charges and
the writing down of the value of goodwill, or intangible assets,
would rise by slightly more than 10 percent.

The company noted that the fall of sales in the first quarter
had been only 4.0 percent when calculated on the basis of
constant, or comparable, exchange rates.

Unilever said that the sales fall reflected the disposal of
assets under its plan for growth.

This restructuring, launched in February 2000, is intended to
concentrate the group on 400 core brands, a reduction from 1,600,
by 2004. --AFP