Gudang Garam books 21% profit

Gudang Garam books 21% profit

JAKARTA: Cigarette producer PT Gudang Garam said first quarter net profit rose 21 percent to Rp511.71 billion due mostly to higher sales.

The company said sales rose 13 percent to Rp4.699 trillion from Rp4.150 trillion.

The higher sales also generated higher operating profit, which rose 16 percent to Rp835.93 billion during the period from Rp722.30 billion last year.

The company didn't offer an explanation for its performance.

Shares in Gudang Garam closed 1 percent higher Monday, or Rp100, at Rp10,250.--Dow Jones