Indomobil turns a profit

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