Ometraco's profit up 22%

Ometraco's profit up 22%

JAKARTA (JP): Publicly listed conglomerate PT Ometraco
Corporation's 1996 net rose 22 percent from Rp 54.4 billion in
1995 to Rp 66.3 billion (US$27.3 million) last year.

The company's financial services division contributed most of
the profit growth with a 77 percent increase in pretax profit,
while the infrastructure division had a bad year.

"Several infrastructure business lines were affected by the
state electric authority's unexpected policy of reducing its
purchases to a minimum level," the company said.

But the company said the impact of this was cushioned somewhat
by its extensive performing customer base.

Ometraco, which is 65 percent owned by the Santosa family,
deals in financial services (banking, multifinance and
insurance), consumer products (integrated meat products and
consumer foods), and infrastructure (equipment for the power and
telecommunications industries). (rid)