Semen Gresik swings to profit<\/p>\n
JAKARTA: Indonesia's largest cement maker, PT Semen Gresik,
\nsaid Thursday it booked a first-half net profit of Rp 170.38
\nbillion (US$19.3 million), swinging from a net loss of Rp 41.39
\nbillion a year earlier mainly due to foreign exchange gains.<\/p>\n
Gresik said it recorded unrealized foreign exchange gains of
\nRp 69.80 billion in the first half of the year, compared with
\nlosses of Rp 329.87 billion a year earlier as the rupiah
\nappreciated to Rp 8,730 as of June 30 from Rp 10,440 a year ago.<\/p>\n
Like many Indonesian companies, Gresik is exposed to foreign
\ncurrency fluctuation due to its dollar-denominated debt.<\/p>\n
Its net sales inched up 8.6 percent to Rp 2.40 trillion, but
\ngross profit fell to Rp 775.55 billion from Rp 846.47 billion as
\nproduction costs rose to Rp 1.63 trillion from Rp 1.31 trillion.<\/p>\n
The company didn't explain what drove production costs higher,
\nbut analysts predicted the costs would rise after the government
\nscrapped fuel subsidies for industries in March. Dow Jones<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-Toyota-China
\nToyota marks full entry into China
\nJP\/14\/brief<\/p>\n
Toyota marks full entry into China<\/p>\n
BEIJING: Japan's Toyota signed a major agreement Thursday with
\nChina's giant First Automotive Works to produce three vehicles in
\nChina and build a joint venture factory in the northern port city
\nof Tianjin, company officials said.<\/p>\n
The companies will build a new factory in Tianjin to make mid-
\nto high-end sedans, with production expected to start in 2005 and
\ntargeted at 50,000 units a year made under the Toyota brand.<\/p>\n
The agreement is expected to mark Toyota's full entry into
\nChina's car manufacturing market after the well-established debut
\nof top competitors like Germany's Volkswagen Group and Buick of
\nGeneral Motors, Toyota sources said earlier in Tokyo.<\/p>\n
The companies also agreed to jointly produce two other
\nvehicles, including a sports utility vehicles under the Toyota
\nbrand starting next year.<\/p>\n
By 2010 the venture aims to produce and sell 300,000-400,000
\nvehicles a year. --AFP<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-EVA-profit
\nEVA Airways returns to profit
\nJP\/14\/brief<\/p>\n
EVA Airways returns to profit<\/p>\n
TAIPEI: Taiwan's second largest airline EVA Airways Corp. said
\nThursday it returned to the black in the six months to June as
\nthe aviation industry started recovering from last year's slump.<\/p>\n
The airline posted a net profit of NT$760 million (US$22.2
\nmillion), compared with a loss of NT$2.52 billion a year earlier.<\/p>\n
The profit came on the heels of an increase in passenger
\nflights on the Taipei-Tokyo route and with more seats being
\nfilled on other services, EVA said in a statement.<\/p>\n
Passenger sales rose three percent to NT$15.4 billion and
\ncargo sales gained 18 percent to NT$11.6 billion with freight
\nshowing a marked recovery since the fourth quarter of last year,
\nit said.<\/p>\n
Overall sales in the six months reached NT$29.1 billion
\ndollars, up 13.2 percent a from a year earlier. --AFP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/semen-gresik-swings-to-profit-1447893297",
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"sponsor": "Okusi Associates",
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