Lautan's profit rises 38%

JAKARTA (JP): Publicly listed PT Lautan Luas, a specialty chemical distributor, recorded a 38 percent increase in net profit to Rp 9.2 billion (US$2.55 million) in the first nine months this year from about Rp 6.8 billion over the same period last year.

The company said yesterday in a statement that it booked a total net sales of Rp 227.9 billion in the January to September period this year compared with Rp 172.8 billion over the corresponding period last year.

The company has set aside about Rp 10.5 billion in anticipation of foreign exchange loss in the face of the currency crisis, which hit the country over the past few months.

"The company has a total liabilities of US$45 million," the statement said.

The company expected to book a total net sales of Rp 300 billion and net profit of between Rp 19 billion and Rp 21 billion this year. (aly)