Asahimas' sales down

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)