Alter Abadi books profits

JAKARTA (JP): The listed kaolin producer PT Alter Abadi posted a net profit of Rp 36.38 billion (US$15.28 million) in 1996, up 33.8 percent compared to 1995's Rp 27.55 billion.

Herry Santoso, finance director of the firm said yesterday, the profit was higher than the projected Rp 33.9 billion.

He said the company booked net sales rose 16.6 percent to Rp 143.90 billion in 1996 from Rp 123.43 billion in 1995.

The company projects to earn Rp 41 billion in net profit and net sales of Rp 163 billion this year.

The company which made its capital debut early this year had total assets of Rp 440.61 billion as December 1996, up 70 percent from 1995's total assets of around Rp 258.9 billion.

The company listed all its 699.29 million shares on the exchange with a market capitalization of Rp 509.5 billion. (09)