Indorama doubles profit

Indorama doubles profit

JAKARTA (JP): PT Indorama Synthetics more than doubled its net profits to Rp 97.2 billion (US$42.4 million) in the first nine months of this year due to higher prices of polyester products and the commissioning of its PET Resin plant, the company announced yesterday.

The producer of polyester chips, fiber and yarn, which has been listed on the Jakarta Stock Exchange since 1990, also posted an increase of 75 percent in its sales to Rp 486.7 billion from Rp 278.4 billion for the same period of last year.

The large profit boosted Indorama's earning per share to Rp 848 from Rp 654.

Indorama, which is based in Purwakarta, West Java, posted total assets of Rp 1.2 trillion as of September, up from Rp 832.02 billion a year earlier. (12)