Gadjah Tunggal's profits

Gadjah Tunggal's profits

JAKARTA (JP): Gadjah Tunggal, a publicly listed tire manufacturer, booked a net profit of Rp 22.54 billion (US$9.8 million) in the first quarter of this year, indicating a 2 percent increase from Rp 21.94 billion in the same period of 1995.

The company announced yesterday that its before-tax profit increased by 35 percent to Rp 45 billion in the first quarter from Rp 33 billion in the same period of 1995.

The consolidated sales in the first quarter reached Rp 202 billion, a 32 percent increase over the same period of last year.

During the first quarter of 1996, tires constituted 91 percent of Gadjah Tunggal's sale revenues. Radial tire sales showed a remarkable 120 percent quarter-on-quarter increase, while bias- belted and motorcycle tires posted 18 percent and 26 percent increases respectively.(hen)