Indofarma sees drop in profit

Indofarma sees drop in profit

JAKARTA (JP): The consolidated net profit of publicly listed
state-owned pharmaceutical company PT Indofarma fell by 44.38
percent to Rp 41.26 billion (US$4.5 million) in the first
semester of this year from Rp 74.17 billion in the same period
last year.

According to its unaudited financial report as per June 30,
2001, the company also booked a decrease in its operating profit
from Rp 115.55 billion to Rp 70.82 billion.

On the other hand, Indofarma's net operating expenses
increased from Rp 6.85 billion to Rp 10.91 billion.

The falling operating profit and the rising operating expenses
brought down the company's before-tax profit to Rp 59.91 billion
from Rp 108.71 billion.

Nevertheless, the company predicted that sales would likely
grow by 30 percent this year, unless there was an extraordinary
social or political change.