PGN profit soars on prices
Tuesday, March 28 2006 - 01:04 AM WIB
State gas distribution firm PT Perusahaan Gas Negara(PGN), said profit for the year ended Dec. 31 rose 81 percent, beating the company's forecast, after higher gas prices bolstered revenue.
Net income increased to 862 billion rupiah (US$95.5 million), or 192 rupiah a share, from 474.3 billion rupiah, or 110 rupiah a share, a year earlier.
Revenue from sales and transmission of gas gained 22 percent to 5.43 trillion rupiah from 4.46 trillion rupiah. The company's foreign exchange loss narrowed to 90.6 billion rupiah from 242.1 billion rupiah a year ago.(*)