Ridean books profit

Ridean books profit

JAKARTA (JP): Tunas Ridean recorded a 61 percent increase in
net profit to Rp 16.1 billion (US$6.3 million) in the first
semester this year from Rp 10 billion in the corresponding period
last year.

The company, which operates in trading, services and an
authorized dealer of Toyota, BMW, Daihatsu, Peugeot and Honda
motorcycles, attributed the increase to the surge in its
automotive division's profit.

The company said Tunas Toyota sold 4,496 cars in the January
to June period this year.

Publicly listed Tunas Ridean recorded total net sales of Rp
497.4 billion in the January to June period compared to Rp 410.2
billion for the corresponding period last year.

The company's president Anton Setiawan said the company's
subsidiary PT Tunas Finance was preparing for an initial public
offering of shares this year. (aly)