Pan Brothers pays dividend

Pan Brothers pays dividend

JAKARTA (JP): Publicly listed PT Pan Brothers will pay a cash
dividend of Rp 35 per share for financial year 1999, down from Rp
50 per share in the previous year, the company's president
Bambang Setijo said here on Friday.

Bambang said that the company's net profit dropped to Rp 14.48
billion last year from Rp 20.5 billion in 1998 despite the surge
in sales.

The company's sales increased to Rp 167.69 billion in 1999
from Rp 157.68 billion in 1998 thanks to higher demand for
textiles and ready-made garments, especially from foreign
markets, he said. But our profit suffered due to increased prices
of raw materials, he added.

Pan Brothers manufactures ready-made garments under several
international brands such as Polo, Ralph Lauren, Gap, Old Navy,
JC Penney, Champion and Umbro.

He said that the company planned to manufacture new brands
such as Calvin Klien, DKNY, J.Crew, Lerner, Blomingdale, Replay,
Reebok, and Diadora. (07)