{
    "success": true,
    "data": {
        "id": 1053859,
        "msgid": "davomas-reports-99-profit-increase-1447893297",
        "date": "1996-10-19 00:00:00",
        "title": "Davomas reports 99% profit increase",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Davomas reports 99% profit increase JAKARTA (JP): Cocoa butter and powder producer PT Davomas Abadi yesterday announced it had almost doubled its net profit for this year's first nine months. The company said it increased its net profit 99 percent to Rp 29.9 billion (US$12.7 million) over the same period last year. Company president Hendrawan Setiadi said the profit jump was attributable to an 88 percent increase in net sales revenue from Rp 85.2 billion to Rp 160.4 billion.",
        "content": "<p>Davomas reports 99% profit increase<\/p>\n<p>JAKARTA (JP): Cocoa butter and powder producer PT Davomas<br>\nAbadi yesterday announced it had almost doubled its net profit<br>\nfor this year's first nine months.<\/p>\n<p>The company said it increased its net profit 99 percent to Rp<br>\n29.9 billion (US$12.7 million) over the same period last year.<\/p>\n<p>Company president Hendrawan Setiadi said the profit jump was<br>\nattributable to an 88 percent increase in net sales revenue from<br>\nRp 85.2 billion to Rp 160.4 billion.<\/p>\n<p>\"In volume, the sales of our cocoa butter increased by 75<br>\npercent to 16,340 tons in the first nine months of this year over<br>\nthe same period of last year, while the sales of cocoa powder<br>\nrose by 73 percent to 15,605 tons due to strong demand in the<br>\ninternational market,\" Hendrawan added.<\/p>\n<p>Cocoa butter is widely used in the production of chocolate<br>\nproducts, while cocoa powder is used to give non-chocolate<br>\nproducts a chocolate flavor..<\/p>\n<p>Hendrawan said Davomas started operating its new production<br>\nline in August increasing annual production capacity by 20,160<br>\ntons to 60,480 tons.<\/p>\n<p>\"We intend to modify our production lines to raise the annual<br>\ncapacity by another 20,160 tons next year and another 40,320 tons<br>\nin 1998,\" he said.<\/p>\n<p>He added that in 1999, Davomas will operate one new production<br>\nline with an annual capacity of 40,320 tons.<\/p>\n<p>\"Therefore, by the year 2000, we will have a production<br>\ncapacity of approximately 160 million tons per annum. This will<br>\nalso increase our market share from only 2 percent to 5 percent<br>\nof the world cocoa market,\" he said.<\/p>\n<p>Hendrawan also disclosed that Davomas had signed a 10-year<br>\ncontract with one of its main buyers to distribute 40,000 tons of<br>\ncocoa butter and powder annually.<\/p>\n<p>He denied to name the buyer but he said the contract would<br>\nstart in January 1998 and the international market would<br>\ndetermine the price.<\/p>\n<p>Davomas Group also owns newly-listed iodized salt producer, PT<br>\nFirskar Agung. (alo)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/davomas-reports-99-profit-increase-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}