Mulia Industrindo expects 94% profit rise<\/p>\n
JAKARTA (JP): PT Mulia Industrindo, a publicly-listed producer
\nof ceramic tiles and glass products expects to book Rp 130
\nbillion (US$55 million) in net profits this year, 94 percent
\nabove its 1995s figure of Rp 67 billion.<\/p>\n
\"The expected profit is 16 percent higher than our previous
\nprojection of Rp 112 billion. We revised the earnings projection
\nbecause we are now optimistic that several new production units
\nwill operate ahead of schedule,\" a director of the company,
\nHendra Heryadi Widjonarko, announced after an annual general
\nshareholders meeting here yesterday.<\/p>\n
Hendra said that the second unit of its float glass plant,
\nwhich was originally scheduled to operate in April this year,
\nstarted commercial production at the end of last year, with an
\nannual production capacity of 216,000 tons.<\/p>\n
\"The operation of the second float glass unit increased the
\ncombined production capacity of glass products to 540,000 ton per
\nannum,\" the company's president, Eka Tjandranegara, said.<\/p>\n
Another project, according to Hendra, is the second unit of
\nwall ceramic tiles which will operate in July, with a production
\ncapacity of nine million square meters per annum.<\/p>\n
\"In September, the third unit of floor ceramic tiles will
\ncommence commercial production with an annual capacity of 10
\nmillion square meters,\" Hendra added.<\/p>\n
He said the company's total sales are estimated to increase by
\n73 percent to Rp 567 billion by optimally utilizing the extended
\nproduction capacity of both glass products and ceramic tiles.<\/p>\n
Hendra said that the capacity of the company's glass products
\nincluding glass containers and glass blocks will become 43
\nmillion square meters this year.<\/p>\n
Mulia's revenues, according to its 1995 annual report,
\nincreased by 39 percent from Rp 234.8 billion in 1994 to Rp 327.5
\nbillion last year, while its net profits soared by 78 percent to
\nRp 67 billion from Rp 37 billion.<\/p>\n
Eka said that for the first quarter this year, the company
\nbooked Rp 59 billion in net sales (as compared to Rp 11.2 billion
\nin the same period last year), Rp 32.4 billion in operating
\nincome (Rp 17.4 billion) and Rp 22.9 billion in net profits (Rp
\n10.7 billion).<\/p>\n
Eka also explained that the company's shareholders gave
\napproval for a proposed rights issue, the second for the company,
\nto raise funds of about Rp 321.3 billion late this month.<\/p>\n
\"The total proceeds will be used to finance our expansion
\nprojects, including the planned third float glass plant which
\nwill produce reflective and safety glass, the fourth plant of
\nfloor tiles, and the third plant of glass containers,\" Eka said.<\/p>\n
Another proposal approved by the shareholders is the 1995
\nfinal dividends.<\/p>\n
\"We will pay Rp 42 per share dividends, totaling Rp 19.8
\nbillion or 29 percent of the 1995 net profits,\" Eka added. (alo)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/mulia-industrindo-expects-94-profit-rise-1447893297",
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