Sampoerna's profit fall

Sampoerna's profit fall

JAKARTA (Dow Jones): PT Hanjaya Mandala Sampoerna, Indonesia's
second largest cigarette producer, said Tuesday its net profit
fell about 28 percent to Rp 1.02 trillion in 2000, from Rp 1.41
trillion the previous year.

The company attributed the fall in its net profit to foreign
exchange losses amounting to Rp 469.7 billion from the weaker
rupiah and an increase in its tax burden. The tax on its total
revenue was raised to 51 percent in 2000, from 48 percent the
previous year.

Sales rose to Rp 10.05 trillion, from Rp 7.41 trillion the
previous year, the company said.

Sampoerna said its share in the national cigarette market
expanded to 19.7 percent at the end of last year, from 13.9
percent at the end 1999, thanks to continuing strength in the
company's leading handrolled cigarette brand Dji Sam Soe, and
strong production growth at other Sampoerna units.