Ramayana posts higher net profit

Ramayana posts higher net profit

JAKARTA: Leading Indonesian retailer PT Ramayana Lestari Sentosa said on Tuesday its net profit rose 24.4 percent to Rp 320.08 billion (US$34.41 million) in 2001, due to higher revenues.

The net profit figure was slightly below the company's own forecast of Rp 323 billion, but gross profit margin improved slightly to 26.86 percent in 2001, from 25.93 percent the previous year.

Ramayana rose Rp 75, or two percent to 3,700 in early trade on the earnings news.

Ramayana booked Rp 2.88 trillion in revenues for 2001, compared with Rp 2.36 trillion in 2000. -- Reuters