Andayani's profits fall

Andayani's profits fall

JAKARTA (JP): PT Andayani Megah, a publicly listed tire cord producer, booked a net profit of Rp 11.34 billion (US$4.9 million) in the first quarter of this year, a 26 percent drop from Rp 15.34 billion in the corresponding period of 1995.

The company announced yesterday that its consolidated sales from January to March rose 8 percent to Rp 49 billion over the same period of last year.

Approximately 63 percent of the company's consolidated sales went to its parent company, PT Gadjah Tunggal, while 5 percent was sold to other Indonesian tire producers and 32 percent was exported to overseas tire producers.

The company's earnings per share dropped to Rp 35 in the first quarter of 1995 from Rp 48 in the same period of 1995.(hen)