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)