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Indonesia's PGN says 9-mth net profit up 57 pct

Thu Oct 30, 2008 11:25pm EDT

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JAKARTA, Oct 31 (Reuters) - Indonesian gas distribution firm PT Perusahaan Gas Negara Tbk (PGN) (PGAS.JK) reported on Friday a 57 percent rise in its nine-month net profit, supported by robust growth in sales revenue and better operating margins.

PGN, which has a market capitalisation of $2.62 billion, said its net profit climbed to 2.04 trillion rupiah ($191.5 million) in the January-September period from 1.30 trillion rupiah a year ago.

Its sales revenue rose 47.2 percent to 9.02 trillion rupiah, while operating profit climbed 62.7 percent to 3.51 trillion rupiah.

PGN distributes gas from exploration blocks to mostly industry users such as fertiliser companies and manufacturers. ($1 = 10,650 rupiah) (Reporting by Harry Suhartono, editing by Sugita Katyal)



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