PGN?s 2002 earnings soars on asset sale, forex gains
Tuesday, July 15 2003 - 09:19 AM WIB
State gas distribution firm PGN booked audited net earnings of Rp.1.1 trillion in 2002 (US$=Rp.8, 200), or more than three times higher than previous year?s corresponding net earnings of Rp.317 billion.
PGN?s operating income increased to Rp.3.15 trillion in 2002 Vs Rp.2.78 trillion in 2002, with gross profit of Rp.1.4 trillion in 2002 Vs Rp.1.18 in 2001.
The company?s dramatic increase in net earnings came from foreign exchange gain of Rp 136 billion in Vs Rp.133 billion loss in 2001 and from other income of Rp.928 billion , which mostly came from the sale of 40 percent shares of PGN subsidiary PT. Transgasindo.(godang)