PT Dharma Samudra expects higher sales

PT Dharma Samudra expects higher sales

JAKARTA (JP): PT Dharma Samudera Fishing Industries Tbk
(DSFI), a seafood processing company, expects a sharp increase in
sales this year due a projected surge in export orders, a company
executive said on Thursday.

Corporate secretary Eddy Karmin said sales were projected to
reach Rp 90.54 billion in the first six months ending in June,
more than half of the total sales of Rp 161.46 billion booked in
1999.

He said this year's total sales could reach more than Rp 190
billion because sales in the second semester usually contributed
about 60 percent of total sales during the year.

"We hope net profit will increase by 535 percent from Rp 5
billion last year," he told a news conference.

He said the realized net profit for the first quarter totaled
Rp 4.5 billion and it was expected to reach Rp 10.79 billion for
the first six months of this year.

He attributed the higher sales on the increase in export
orders and a rise in fish catches in the country.

He said the company, which operates two major seafood
processing facilities in Kendari, Southeast Sulawesi, and in
Jakarta, bought fresh fish and other catches from 6,000 fishermen
and 200 domestic fishing boats mostly in eastern Indonesian.

"Some of the catches are also bought from Australian
fishermen," he added.

The company, which floated its shares on the Jakarta Stock
Exchange (JSX) early this year, produces seafood products such as
frozen fish fillets, sashimi, stuffed crab claws and cooked
lobsters.

The seafood is exported to the United States, Japan and many
other countries under brand names Damura and Lucky Doll. (07)