Dynaplast books robust sales

JAKARTA (JP): Publicly listed plastic materials manufacturer PT Dynaplast Tbk booked net sales of Rp 196.8 billion (US$24.6 million) in 1999, a 31.3 percent increase from the Rp 149.9 billion in 1998.

The company said on Saturday improving purchasing power in the country had boosted its net profit to Rp 29 billion in 1999, a rise of 152.7 percent from Rp 11.5 billion in 1998.

The company also made a strategic move in taking over plastic bottle molder PT Sanpak Unggul for Rp 35.4 billion in 1999, with a purchase order on a five-year contract from consumer products manufacturer PT Unilever Indonesia.

The move expanded the company's plastic bottle business from making containers only for cosmetic lubricant oil companies to companies in other industries, such as household products.

The company also bought back 10 percent of its shares at Rp 990 per share last year, in order to enhance its shareholder value. Dynaplast's stock at the Jakarta Stock Exchange closed at Rp 1,100 per share on Friday. (07)