Ramayana 2001 sales below target

Ramayana 2001 sales below target

JAKARTA : Indonesian retailer PT Ramayana Lestari Sentosa said
Wednesday its 2001 full-year sales increased 21.7 percent to Rp
2.88 trillion.

The sales figure was below its target of Rp 2.90 trillion for
the year.

The company said it expects to post a full-year net profit of
Rp 323 billion in 2001, higher than the Rp 257 profit a year
earlier. The figure will be released later in the quarter.

Ramayana said it plans to open 10 new stores in 2002 and close
three unprofitable stores, adding a further 80,000 square meters
of retail space. Ramayana currently has 80 stores with 491,484
square meters of retail space.

The opening of the new stores should help Ramayana push its
net sales for 2002 up to Rp 3.60 trillion, with a net profit
target of Rp 375 billion. --Dow Jones