Indocopper's profit up

Indocopper's profit up

JAKARTA (JP): PT Indocopper Investama Corporation, a mining
subsidiary of the Bakrie Group, recorded a 62.8 percent increase
in net profit to Rp 56.46 billion (US$23.5 million) in 1996, the
company said yesterday.

The company said the increase was due to an increase in the
dividends it received on its shares in PT Freeport Indonesia
Company.

It would use the remaining profit to purchase 10 percent of PT
Irja Eastern Mineral Co, amounting to Rp 2.1 billion.

It also allocated Rp 924 million of the profit to operating
costs and Rp 863 million to the government-sponsored Yayasan Dana
Sejahtera Mandiri foundation to alleviate poverty. (jsk)