Aluminum firm's profit soars

JAKARTA (JP): PT Alumindo Perkasa, a publicly-listed aluminum extrusion company, announced yesterday a 70 percent increase in its after-tax profit in 1994 to Rp 1.75 billion (US$781,250) from Rp 1.02 billion in 1993.

The company's president, Hadi Winarso, who joined the firm in January to replace Hadianto Martosubroto, said at the annual shareholders' meeting that the company would distribute dividends of Rp 50 per share, representing 58 percent of the 1994 profit, to the shareholders.

Hadi said Alumindo's sale revenues had increased by 25.5 percent, from Rp 31.45 billion in 1993 to Rp 38.22 billion in 1994.

The company's total assets increased to Rp 54.79 billion as of last December, from Rp 43.07 as of the end of 1993, he said.

Alumindo is 42.89 percent owned by PT Gesit Alumas, 22.78 percent by the Jakarta city administration, 5.13 percent by the IBJ Merchant Bank of Singapore, 5.13 percent by Standard Chartered Securities (Singapore) Pte. Ltd., 23.08 percent by the investing public and the remainder by a number of cooperatives. (31)