Argha Karya's profits up

JAKARTA (JP): PT Argha Karya Prima Industry, an integrated manufacturer of flexible packaging in the NAPAN Group, yesterday reported an 8-percent increase in net profits to Rp 25 billion last year from Rp 23 billion (US$9.8 million) in 1994.

"Our net sales rose 30 percent to Rp 247 billion last year, of which Rp 172 billion was derived from the film division and Rp 75 billion from the converting division," the company's president, Ibrahim Risjad, said after an annual company shareholders meeting.

"Increased prices for film and the start of commercial production for our new product, PTE film, under the brand of Areta, as well as a sales increase in the converting division, led to higher net sales revenues," he added.

He said the sales volume of its film division declined from 30,138 metric tons in 1994 to 28,990 tons last year but the sales volume of its converting division rose from 128 million square meters to 147 million square meters.

"We expect a 30 percent increase in sales and 20 percent in net profits this year," Ibrahim said. (alo)