Duta Pertiwi pays dividend<\/p>\n
JAKARTA (JP): Publicly listed wood glue manufacturer PT Duta
\nPertiwi Nusantara announced on Wednesday it would pay a dividend
\nof Rp 100 (1.4 cents) per share for the 1998 financial year.<\/p>\n
The company president, Siang Hadi Widjaya, said sales rose to
\nRp 97.59 billion in 1998 from Rp 46.15 billion the previous year,
\nwhile net profit rose to Rp 33.93 billion from Rp 10.43 billion
\nin the same period.<\/p>\n
\"We experienced a drop in the volume of sales last year to
\n35.3 metric tons from 45.3 metric tons in 1997. But we still
\ngained some profit thanks to the strengthening of the U.S. dollar
\nagainst the rupiah,\" he said.<\/p>\n
The company's wood glue products were sold in dollars to local
\nplywood exporters and foreign plywood manufacturers, he said
\nafter the company's shareholders meeting.<\/p>\n
He said the company expected lower sales and net profits this
\nyear to Rp 70 billion and Rp 25 billion respectively due to the
\nstrengthening of the rupiah.<\/p>\n
PT Duta Pertiwi has recently expanded business by opening a
\njoint venture coal mining company, PT Intitirta Primasakti, in
\nSouth Sulawesi, Siang said. He added the subsidiary was currently
\nin the exploration stage. (cst)<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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