Asahimas profits drop

JAKARTA (JP): Publicly listed glassmaker PT Asahimas Flat Glass Co. Ltd reported a decline in net profits of about 35 percent to Rp 44.1 billion (US$18.52 million) in 1996 from Rp 73.71 billion in 1995.

The company announced that its net sales dropped by 14 percent to Rp 347.3 billion in 1996 from Rp 403.6 billion in 1995.

Of the company's total net sales, fabricated glass accounted for 30.8 percent, high quality and specialty glass for 35.2 percent and commodity and figured glass for 34 percent.

The company said it would increase its prices of commodity glass and some specialty glass by 20 percent and 30 percent respectively starting March, 1.

The company also increased its prices in January early this year. (09)