Tunas profit hits record

JAKARTA (JP): Publicly listed car distributor PT Tunas Ridean said on Friday its 2000 net profit hit a record high of Rp 95 billion (about US$8.71 million), up from Rp 26 billion in 1999, thanks to a big increase in sales.

It said last year's car sales surged by 182 percent to end at Rp 1.97 trillion, from Rp 699.5 billion the year before.

Consolidated revenue reached a record figure of Rp 2.1 trillion, which is a 181 percent increase from the 1999 sales of Rp 734.2 billion, Tunas said in a statement.

Cars sold last year totaled 12,577 units, as against 4,073 units in the previous year.

Tunas is the authorized dealer of Toyota, BMW, Daihatsu, Peugeot, and Honda motorcycles.

The company is 47.91 percent owned by PT Tunas Andalan Pratama, 30 percent by Jardine International Motor Holdings BV, and 22.09 percent by the investing public. (bkm)