Cement company's profits up<\/p>\n
JAKARTA (JP): PT Indocement Tunggal Perkasa, a major publicly-
\nlisted cement producer, yesterday announced a 16 percent increase
\nin its quarterly profits, while two other listed firms reported
\nincreases in their profits in 1995.<\/p>\n
Indocement said in a statement yesterday that its consolidated
\nprofits increased to Rp 100 billion (US$42.5 million) in the
\nfirst quarter of this year from Rp 86.6 billion in the same
\nperiod last year.<\/p>\n
The statement said that in the first quarter, net revenues
\nreached Rp 996 billion, an increase of 14 percent.<\/p>\n
It reported that the net revenues of the company's cement
\ndivision rose by only 3 percent to Rp 315 billion in the January-
\nMarch period, while net revenues from its food division increased
\nby 20 percent to Rp 678 billion.<\/p>\n
The food division contributed 68 percent of the company's
\nrevenues and 52 percent of its operating income. Excluding
\nBogasari, the food division contributed 43 percent of its net
\nrevenues and 33 percent of its operating profits.<\/p>\n
Meanwhile PT Ever Shine Tex, a textile and garment
\nmanufacturer, said that it had registered a 19 percent increase
\nin total sales to Rp 162 billion the previous year.<\/p>\n
Net sales of textiles rose 24 percent to Rp 132 billion,
\nwhile sales of garments remained stagnant at Rp 29 billion.<\/p>\n
The company said the flat growth of garment sales was a result
\nof weakening demand on the international market, particularly in
\nEurope. About 90 percent of the company's garment production is
\nallocated for export.<\/p>\n
It was reported that due to price increases in raw materials,
\nthe company's profits grew by only 8 percent to Rp 24 billion
\nlast year.<\/p>\n
Another listed company, Bank Surya, also said that its net
\nprofits last year rose 67 percent, to Rp 16 billion, over the
\nprevious year.<\/p>\n
The bank's president, A.K. Ariawan, said in a statement that
\nas of Dec. 31, 1995, the bank's total assets reached Rp 1.1
\ntrillion, indicating an increase of 31 percent over the previous
\nyear.<\/p>\n
Ariawan said that as of last December, total deposits
\ngenerated from the public increased by 24 percent to Rp 940
\nbillion, most of which were in the form of time deposits.<\/p>\n
Total credits rose 18 percent from Rp 615 billion as of the
\nend of 1994 to Rp 728 billion as of the end of last year, of
\nwhich 64.7 percent went to the trade sector, 13.3 percent to the
\nservices sector and 10.7 percent to the construction sector. The
\nremaining 11 percent was allocated to other sectors, such as the
\nmanufacturing industry and transportation. (alo)<\/p>",
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