Gajah Tunggal profit up

JAKARTA (JP): PT Gajah Tunggal, a publicly listed integrated tire producer, has increased its profit by 30 percent to Rp 134 billion (US$56 million) in 1996 from Rp 106 billion in 1995.

The company said yesterday that based on its unaudited financial reports, consolidated sales rose 32 percent to Rp 987 billion last year from Rp 747 billion in 1995.

Tire sales made up 86 percent of total sales in 1996 worth Rp 853 billion, of which 61 percent was sold domestically and 39 percent was exported.

Tires were exported to the Asia Pacific (42 percent), Middle East (24 percent), Europe (20 percent), North America (9 percent) and Africa (5 percent).

Radial tires were worth Rp 229 billion, bias tires Rp 473 billion and motorcycle tires Rp 152 billion.

Tire capacity of radials, bias and motorcycle tires rose 67 percent, 10 percent and 5 percent to 4.7 million, 3.9 million and 8.2 million respectively in 1996. (10)