Jababeka's profits up 50%

Jababeka's profits up 50%

JAKARTA (JP): Industrial estate company PT Kawasan Industri
Jababeka announced yesterday it had increased its net profits by
50 percent from Rp 91.6 billion (US$39.82 million) in 1994 to Rp
137.3 billion last year, in spite of the prevailing slump in the
property market.

Sales in 1995 increased by 14 percent to Rp 348.9 billion,
while gross profits grew by 15 percent to Rp 169.2 billion and
pre-tax profits rose 37 percent to Rp 187.4 billion.

A statement from Jababeka said its profits managed to stay at
a steady level because high margins from its industrial estates
helped offset low margins from its sales of low-cost houses.

The increase in profits also resulted from Rp 27.1 billion
worth of membership fees from the firm's golf club and an Rp 18
billion increase in interest revenues.

The firm's shareholders meeting agreed on a dividend of Rp 150
per share. An extraordinary meeting of shareholders also agreed
to distribute bonus shares from an agio, providing one bonus
share for every two shares. (pwn)