Kabel Indonesia`s profit jumps 242 pct

Jakarta (ANTARA News) - Publicly-listed electrical cable maker PT Kabel Indonesia Tbk said on Thursday its net profit in the first half of 2008 jumped 242 percent to Rp28.8 billion from Rp11.9 billion in the same period last year.

Operating profit rose to Rp46.2 billion from Rp31.6 billion due in part to a rise in sales, the company`s operations director, Lie T H, said.

Sales in the first semester of 2008 increased by 47.6 percent to Rp796.9 billion from Rp539.8 billion in the same period last year, he said.

He said a decline in interest expenses to Rp0.1 billion from Rp7.3 billion as a result of the debt restructuring program leading to lower-than-expected debt principal and interest rate at the end of 2007 also contributed to the first-half net profit.

He said a Rp4.7 billion rise in profit from difference of the rupiah`s exchange rate against the dollar also raised the net profit.


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