Lautan's profit rises 38%

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)