JP/14/M10
Hero's net profit drops 71.4%
JAKARTA: Publicly listed retailer PT Hero Supermarket announced on Friday that its net profit in the first quarter of this year dropped by 71.4 percent to Rp 4.3 billion (US$497,109) compared to the same period last year.
In a report to the Jakarta Stock Exchange, the company said the fall in net profit was attributed to rising sales costs from Rp 416 billion last year to Rp 495 billion.
Hero said sales revenue increased slightly to Rp 622 billion in the first quarter from Rp 541 billion in the same period last year.
Operating costs jumped to Rp 121 billion from Rp 109 billion. -- JP
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Timah posts sharp increase in profit
JAKARTA: State-owned mining company PT Timah announced on Friday that its first quarter net profit soared sharply to Rp 27.1 billion (US$3.1 million) from Rp 1.1. billion in the same period last year on cost-cutting measures and the higher price of tin.
The average price of tin in the quarter was about $4,010 per ton, or a 14.56 increase from the average price level from the same quarter last year.
The publicly listed company said sales volume in the quarter soared by 82.85 percent to 14,717 tons, while revenue increased by 75.7 percent to Rp 424 billion. -- JP
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P&G Indonesia teams up with DNR
JAKARTA: Consumer goods maker PT Procter & Gamble Indonesia (P&G) appointed PT Dos Ni Roha (DNR) as the new distributor of the company's goods for Greater Jakarta and West Kalimantan, a company press statement said on Friday.
The company said that DNR had invested about Rp 6 billion (US$639,641) to expand its distribution facilities.
P&G, which operates in 160 countries, markets such well-known products in Indonesia as Pantene, Rejoice, Head & Shoulder, Olay, Vicks F-44, Vicks Vaporub, Vicks Inhaler, Whisper and Pampers.
P&G generated sales of $40 billion worldwide last year. -- JP
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GM April sales off 9%
DETROIT, Michigan : General Motors Corp. said its April sales were off nine percent year-on-year to 400,687 units, although its sales mix skewed heavily towards its profitable truck lines.
GM truck sales (244,965) were up 2 percent over a year ago, while car sales in April (155,722) were down 22 percent from the year-ago level.
Luxury car sales were also a bright spot: sales of Saab were up 39 percent, while GM's revamped Cadillac brand was also showing some traction, with sales up 15 percent.
"Both GM and the industry had a solid month in April, despite some hesitation in consumer attitudes," said John Smith, group vice president of GM North America sales and marketing. "Sales of GM luxury vehicles, large pickups and large utilities were strong even with the exceptionally competitive environment."
GM's 2003 second-quarter production forecast for North America remains unchanged at 1.39 million units, off from 1.55 million vehicles in the second quarter of 2002. --AFP
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Unilever sees profits surge 45%
ROTTERDAM, The Netherlands : Food giant Unilever boosted net profits by 45 percent in the first quarter, but sales slumped by 17.0 percent, the company said on Friday.
Net profit by the Dutch-British group amounted to 637 million euros (US$707 million) on the basis of current exchange rates from 441 million euros in the first quarter of last year.
The group, which has been restructuring since 2000, said that business at the beginning of the year had been slower than it expected.
But it stood by a forecast in February signaling that net earnings per share before allowance for exceptional charges and the writing down of the value of goodwill, or intangible assets, would rise by slightly more than 10 percent.
The company noted that the fall of sales in the first quarter had been only 4.0 percent when calculated on the basis of constant, or comparable, exchange rates.
Unilever said that the sales fall reflected the disposal of assets under its plan for growth.
This restructuring, launched in February 2000, is intended to concentrate the group on 400 core brands, a reduction from 1,600, by 2004. --AFP