Buana Finance Profit Down 21%

AKARTA - financing company PT Buana Finance Tbk (BBLD) recorded a net profit decline in fiscal year 2007 of 21 percent. Net income was down from Rp98, 614 billion to Rp77, 504 billion.

As quoted from the published financial statements of companies, in Jakarta, Monday (24/3/2008), this decline in net profit due to increased operating expenses that are not comparable to the increase in income.

Operating expenses increased from Rp96, 113 billion to Rp140, 567 billion. While revenues increased by only a thin from Rp236, 984 billion to Rp252, 394 billion. So that the profit before tax down from Rp140, 871 billion to Rp111, 827 billion