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.