Wicaksana books higher sales

Wicaksana books higher sales

JAKARTA (JP): PT Wicaksana Overseas International announced on
Monday a 50 percent increase in net sales to Rp 1.92 trillion
(about US$271.4 million) during the nine months ending in
September.

The company said its gross profit reached a total of Rp 151.7
billion over this period, a rise of 7.3 percent from the same
period last year.

Operating profit climbed to Rp 60.6 billion from Rp 58.9
billion in the same period last year, it said.

However, the company suffered a net loss of Rp 11.4 billion,
down from its Rp 379.8 billion net loss in the first nine months
of 1998. The company said the loss resulted from foreign exchange
losses.

Foreign exchange losses fell to Rp 58.6 billion in the period
from January to September this year, down from Rp 499.2 billion
in losses during the same period last year.

The trading and distribution company said it secured initial
approval from its foreign creditors to restructure its debt. (hen)