VDHI's net profit rises 4.77%

JAKARTA (JP): Publicly listed plastic and flexible packaging manufacturer PT Van Der Horst Indonesia (VDHI) reported a 4.77 percent increase in net profit last year, to Rp 1.88 billion (about US$235,000) from Rp 1.79 billion the previous year.

Earnings per share rose slightly to Rp 23 per share from Rp 22 per share.

The company said yesterday that the increase in the net profit was attributed to foreign exchange gains of about Rp 2.23 billion.

The country's economic hardships caused sales during the year to decline by 16.19 percent, falling to Rp 21.94 billion from Rp 26.18 billion in 1996.

Company's president Hadi Susanto said that the company had no dollar-denominated debt, creating a relatively stronger liquidity position. (rei)