Tunas Ridean's profit up

JAKARTA (JP): Publicly listed PT Tunas Ridean recorded a net profit of Rp 11.4 billion in the first quarter this year, up 150 percent from the same period last year.

The company said yesterday that its automotive division contributed about Rp 6.8 billion to its net profit and the finance division about Rp 4.6 billion.

The company's president Anton Setiawan said it projected a net profit of Rp 30.8 billion this year.

The company distributed a Rp 3.53 billion dividend to shareholders at Rp 38 a share.

Tunas Ridean is an independent automotive distributor company selling four-wheel vehicles including Toyota, Daihatsu, BMW and Peugeot makes.

The company has 47 showrooms and 23 workshops. (09)