Tue, 15 Aug 2000

Tunas posts higher profit

JAKARTA (JP): Publicly listed automotive company PT Tunas Ridean announced on Monday net profits of Rp 45 billion (US$5.6 million) for the first half of this year.

Company corporate secretary Miranti Andiyana said the figure reflected an increase of 342 percent from the Rp 10 billion it booked over the same period last year.

"It's higher than our previous projection of Rp 40 billion," she said, attributing the improvement to the increase in sales volumes and car consumer financing programs.

She said the company, an authorized dealer for Toyota, BMW, Daihatsu, Peugeot cars and Honda motorcycles, was optimistic it would be able to exceed its full-year net profit projection of Rp 76 billion. (cst)