Indomobil turns a profit

Indonesia's second largest automotive assembler and distributor, PT Indomobil Sukses International, said it booked a net profit of Rp 970 billion (US$116 million) in 2002, compared to a loss of Rp 51.4 billion the previous year.

The profit mostly came from the company's subsidiaries, which booked a total profit of Rp 888 billion. The remaining came from currency gains and sales.

In its audited 2002 financial report, Indomobil booked total sales of Rp 9.1 trillion, a 23 percent increase from Rp 7.4 trillion in 2001.

Indomobil had received two warning letters from the Jakarta Stock Exchange for failing to submit its 2002 audited financial report by March 31. -- JP