Lonsum books higher profit

JAKARTA (JP): Publicly listed PT London Sumatra Indonesia reported a 14 percent increase in net profit to Rp 50.2 billion in the first six months of this year compared to the same period last year.

The company said in a statement on Friday that the increase in net profit was still relatively lower than the increase in operating income this year.

The statement said that operating income rose by 185 percent to Rp 133.7 billion in the first semester of this year compared to the same period last year.

The company also said that its revenue increased to Rp 204.3 billion in the first six months of this year.

The oil palm and rubber plantation firm said that it had appointed an auditing and legal firm to perform a financial and legal due diligence on its debt restructuring plan, scheduled to be completed by the first quarter of 1999.

However, the company did not provide details on the amount of its overseas debts. (aly)