Thu, 25 May 2000

Bayer books higher sales

JAKARTA (JP): Publicly listed PT Bayer Indonesia booked gross sales of Rp 173 billion (US$20.8 million) in the first quarter of this year, up from Rp 161 billion in the same period in 1999.

Company president Wolfgang Piroth said in a statement that the rise was partly due to an increase in domestic demand for its products.

He added that export revenue dropped to Rp 11.5 billion the first quarter from Rp 23.3 billion in the corresponding period last year.

Net profit increased to Rp 20.4 billion during the first quarter from Rp 0.5 billion in the same period in 1999.

With improved consumer purchasing power in the country, the company expects a 5 percent increase in total sales to Rp 750 billion this year.

Bayer operates in pharmaceuticals, self-medication, crop protection and consumer products, with two factories in Jakarta and one in Gresik East Java.

The company is owned 86.32 percent by Bayer AG of Germany, 3.95 percent by PT Bayer Kimi Farmasindo and 9.73 percent by the public. (07)