Asahimas' sales down

JAKARTA (JP): Publicly listed glass producer PT Asahimas Flat Glass Co. Ltd. reported yesterday a 7.6 percent drop in net sales in the first half of this year, to Rp 174.3 billion (about US$60.1 million), compared to the same period in 1996.

Company president Margono Djojosumarto said in a statement that Asahimas' net profit dropped 91 percent in the first half of this year to Rp 3.3 billion. He said the decline was due to price competition in the first quarter of this year.

"We have seen improvements across the board," he said. "The effects of price increases starting early this year will be felt more strongly in the second half of 1997."

Asahimas increased its sales volume to 195,631 tons of glass in the first half of this year -- a 15.8 percent increase from the same period last year -- while its export volume increased by 35.6 percent to 63,642 tons in the same period, Margono said. (jsk)