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INDONESIA'S MEDCO POSTS HIGHEST PROFIT SINCE 1980.(Financial report)
JAKARTA, April 1 Asia Pulse - Indonesia's PT Medco Energi Intenasional (JSX:MEDC) posted a net profit of US$280.2 million in 2008, the highest it had recorded since 1980, Medco finance director D Cyril Noerhadi said.
Noerhadi said here on Tuesday that the net income in 2008 was 34 times the profit gained in the previous year which stood at US$6.6 million only.
"The net profit in 2008 increased 43 times if compared with that in 2007 which was only US$6.6 million," he said.
He said the company's sales and income in 2008 recorded the highest proceeds ever in its history, namely US$1.3 billion, or an increase by 19.3 per cent compared with that in 2007 which was US$1.1 billion.
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