August 3, 2007

Indonesia's Sierad Produce back to profitability

Indonesian poultry company PT Sierad Produce said Thursday (Aug 2) it returned to profitability in the first half of 2007, supported by higher sales and a cut in operating expenses.

The company posted operating profit of 18.66 billion rupiah (US$2 million) for the period, compared to an operating loss of 5.35 billion rupiah (US$576,000) a year earlier, thanks to a seven percent decline in operating expenses.

The company achieved a net profit of 13.31 billion rupiah (US$1.43 million) for the six months ended June compared to a loss of 5.11 billion rupiah (US$ 550,000)  a year earlier.

Sales rose 20 percent to 683.12 billion rupiah (US$73.6 million) from 562.14 billion rupiah (US$60.6 million).