Asahimas' profits rise

Asahimas' profits rise

JAKARTA (JP): Publicly listed PT Asahimas Flat Glass Co. Ltd. reported a 65.4 percent increase in net profits to Rp 73.7 billion (US$31.8 million) last year.

Asahimas' president, Mardjono Djojosumarto, told a meeting with securities analysts here on Monday that the sharp profit increase was caused by its production expansion as well as the rise in sale prices.

"The operation of our third plant last year raised our total production by 40 percent to 420,000 metric tons," Mardjono said.

The sale prices of all the three product categories -- high quality and specialty glass, fabricated glass, commodity and figured glass -- increased by 13 percent with the sale prices for the year averaging at Rp 1.1 million per metric ton.

Asahimas' total sales, according to its unaudited reports, rose to 373,300 tons worth Rp 403.6 billion last year.

He added that next year the company's production capacity will increase to 570,000 tons when its fourth plant in the East Java capital of Surabaya, which is now under construction, commences commercial production with a capacity of 150,000 tons. (08)