Tunas' net profit surges

JAKARTA (JP): Publicly listed automotive distributor PT Tunas Ridean Tbk reported on Friday a 270 percent increase in net profit to Rp 95 billion (US$8.6 million) in 2000, compared to Rp 26 billion the previous year.

The company said consolidated sales increased 181 percent to Rp 2.1 trillion from Rp 734.2 billion in 1999, partly due to a sharp rise in the automotive division's net sales to Rp 1.97 trillion from Rp 699.5 billion the previous year.

Tunas, the authorized dealer for Toyota, BMW, Daihatsu and Peugeot cars, and Honda motorcycles, sold 12,577 new vehicles in 2000, an increase of 209 percent from the 4,073 vehicles sold in 1999.

John Stevenson, the company's managing director, said sales in 2000 were at their highest levels since 1997. (05)