Lippo quadruples income

Lippo quadruples income

JAKARTA (JP): PT Lippo Securities, one of the listed
subsidiaries of the Lippo Group, reported yesterday that its net
income in the first nine months of 1994, quadrupled to Rp 19.2
billion (US$87.2 million), from Rp 5 billion in the corresponding
period of last year.

Tan Yong Seng, the company's director, said the results are
caused mostly by a 329 percent increase in the net operating
income to Rp 24 billion in the January-September period over the
same period last year.

The executive said the firm's pretax profit rose 248 percent
to Rp 27.8 billion from Rp 8 billion. (hdj)