Ramayana's profit up 6.8%

Ramayana's profit up 6.8%

JAKARTA (JP): Publicly-listed department store chain PT
Ramayana Lestari Sentosa recorded a 6.8 percent increase in net
profit, reaching Rp 56.79 billion (US$5.16 million) in the first
quarter of the year as against Rp 53.15 billion in the same
period last year.

The company attributed the increase to foreign exchange
earnings which rose seven fold to Rp 22.19 billion in the first
quarter of the year, from Rp 3.3 billion in the corresponding
period last year.

Sales plunged 9 percent to Rp 414.08 billion, from Rp 453.53
billion, the company said in a statement quoted by online news
provider Detik.Com.

Operating costs rose by 15.7 percent to Rp 81.01 billion, from
Rp 70.1 percent.

Last year, Ramayana recorded a 42.9 percent increase in sales
reaching Rp 2.4 trillion, as against Rp 1.7 trillion in the
previous year.

Net profit rose by 23.2 percent last year to Rp 257.2 billion
from Rp 208.7 billion in 1999. (03)