Indocement books lower losses

Indocement books lower losses

JAKARTA: PT Indocement Tunggal Perkasa said Monday that lower
foreign exchange losses helped cut its 2001 net loss to Rp 63.1
billion (US$6.8 million) from a Rp 874.1 billion loss a year
earlier.

The cement maker said stronger sales also helped, which
climbed to Rp 3.45 trillion last year from Rp 2.44 trillion in
2000.

But "delivery and selling expenses" were also sharply higher,
rising to Rp 227.90 billion from Rp 134.51 billion the previous
year. This dragged Indocement's operating profit down to Rp
672.07 billion compared with Rp 705.40 billion a year earlier.

Indocement's foreign exchange losses fell to Rp 319.52 billion
last year from Rp 1.44 trillion in 2000. -- Dow Jones