Jababeka's profit up 50%

Jababeka's profit up 50%

JAKARTA (JP): Publicly-listed industrial estate PT Kawasan Industri Jababeka announced a 50 percent increase in its after- tax profit to Rp 137.33 billion (US$59.5 million) in 1995 from Rp 91.65 billion in 1994.

"The company's net income per share increased by Rp 45 to Rp 438 last year from the previous year's Rp 393," the company announced yesterday.

The company's president, Ismail Sofyan, issued a statement saying that last year's profit increase was mainly due to the 14 percent increase of its revenues from the sales of industrial sites and services to Rp 348.9 billion and the 201 percent rise of revenues from deposit interest to Rp 26.9 billion.

He said the operation of the firm's golf course generated some Rp 27 billion from membership fees.

Jababeka's total assets increased by 38 percent to Rp 1.24 trillion as of last December from Rp 897 billion as of the end of 1994.

Jababeka, which has acquired PT Indocargomas Persada and PT Greenwood Sejahtera with their 150 hectares and 80 hectares of industrial sites respectively, currently controls 2,970 hectares of land, of which 1,570 hectares are allocated for industrial sites and the remaining 1,400 hectares for housing facilities. (kod)