Lippo Pacific on profit

JAKARTA (JP): PT Lippo Pacific Finance expects a 6 percent increase in its net profit to Rp 7 billion (US$2.86 million) this year, a company director said over the weekend.

Roberto Feliciano said the company earned a net profit of about Rp 1.4 billion in the first quarter of 1997. Feliciano, speaking following a shareholders meeting, reported last year's net profit as Rp 6.6 billion.

The company's revenue last year reached Rp 30.556 billion, of which 65 percent was derived from interest, 33 percent from fees and the remainder from dividends of subsidiaries.

Lippo Pacific, founded in 1982, is part of the investment banking division of Lippo Group.

The shareholders meeting approved a plan to pay Rp 1.5 billion in dividends, or Rp 50 per share. (13)