JAKARTA : Indonesia's PT Matahari Putra Prima, a major

JAKARTA : Indonesia's PT Matahari Putra Prima, a major supermarket and department store operator, said Friday net profit nearly doubled to Rp 70.28 billion in the first half of the year, helped by a sharp increase in interest earnings.

Matahari Putra booked Rp 35.82 billion in interest earnings, up 87 percent from Rp 19.12 billion a year ago.

The company recorded net profit of Rp 36.77 trillion in the year-earlier period.

Net sales rose to Rp 2.35 trillion from Rp 2.17 trillion, bringing gross profit up to Rp 695.51 billion from Rp 637.86 billion.

Operating profit in the six months increased to Rp 52.48 billion from Rp 31.24 billion.

The company didn't provide further comment on its performance.

Matahari operates 81 department stores in 37 cities throughout Indonesia. It sells a range of goods, including clothing and toys, and also has supermarkets inside its department stores. --Dow Jones.

;DJ; ANPAf..r.. CorporateBriefs-Indocement-profit Indocement reports profit JP/14/

Indocement reports profit

JAKARTA : Indonesia's second largest cement producer, PT Indocement Tunggal Prakarsa, swung to net profit in the first half of the year from a net loss a year earlier thanks to unrealized foreign exchange gains.

Indocement said it booked a net profit of Rp 878.87 billion in the six months ended June 30, compared with a net loss of Rp 869.21 billion.

It booked foreign exchange gains of Rp 1.05 trillion, swinging from losses of Rp 1.38 trillion a year earlier due to the rupiah's appreciation against the dollar.

Indocement, like many Indonesian companies, is exposed to currency fluctuations due to its dollar-denominated debt.

The company's net revenue rose 15 percent to Rp 1.82 trillion from Rp 1.58 trillion a year earlier, but gross profit fell to Rp 538.65 billion from Rp 566.59 billion as production costs rose 27 percent to Rp 1.28 trillion from Rp 1.01 trillion.

German's Heidelberger Zement AG owns 61.7 percent of Indocement; the Indonesian government holds a 16.87 percent stake; the company's founder, the Salim Group, owns 13.47 percent; Japan's Marubeni Corp. has 1.9 percent; and the public holds 6.06 percent. --Dow Jones

;DJ; ANPAf..r.. CorporateBriefs-Netscape-browser Netscape launches new browser JP/14/

Netscape launches new browser

SAN FRANCISCO : AOL Time Warner unit Netscape Communications said Thursday it was launching its new Netscape 7.0 browser software, aimed at recapturing some of its market share lost in recent years.

Localized versions of Netscape 7.0 are being launched in Britain, Canada, France, Germany and Japan on the same day as in the United States.

Netscape said its new browser would offer faster start-up times and other new convenience features, including integrated instant massaging and mail as well as "tabbed browsing" to keep track of multiple sites or pages simultaneously.

The launch was announced a day after StatMarket, an online market survey firm, said Netscape browsers market share dropped to just 3.4 percent -- to 96 percent for the Microsoft Internet Explorer.-- AFP.

;DJ; ANPAf..r.. CorporateBriefs-RI-oil RI sees crude oil output up JP/14/

RI sees crude oil output up

JAKARTA: Indonesia expects crude oil output to increase up to 300,000 barrels a day next year as two oil fields are scheduled to commence production then, Mines and Energy Minister Purnomo said Friday.

"Each of the fields will produce between 100,000 and 150,000 barrels per day," the minister said, identifying the fields as the onshore Cepu in Central Java and offshore West Seno in the Makassar Strait.

Because of the expected increase in production, Purnomo said the government may ask the Organization of Petroleum Exporting Countries to raise Indonesia's crude output quota next year.

Indonesia is the only South East Asian member of OPEC. Its crude oil output stands around 1.2 million b/d.

Purnomo refused to comment on the government's stance on whether OPEC should raise its output during a meeting next month in Osaka, Japan.

He said the government is still studying the matter. --Dow Jones