Sugar firm suffers loss

Sugar firm suffers loss

JAKARTA (JP): State-owned PT Perkebunan XXIV-XXV, one of the
country's major sugar producers, suffered a loss of Rp 9.8
billion (US$4.2 million) last year, a company official said
yesterday.

The executive secretary of the state-owned plantation firm, M.
Saleh Brotojoewono, attributed the financial deficit to its high
debt burden.

Besides operating 12 sugar mills in East Java, the Surabaya-
based plantation company also manages a sugar plant in South
Kalimantan.

Saleh said that Perkebunan XXIV-XXV actually gained
operational profits of Rp 42.7 billion from the 12 sugar mills in
Java last year. "But the company's loan repayment during the
period reached Rp 52.6 billion, forcing the company's balance
sheet into the red," he said. (hen)