Jaya Pari's profits fall

Jaya Pari's profits fall

JAKARTA (JP): Publicly listed PT Jaya Pari Steel will pay its
shareholders a dividend of Rp 50 (US$0.02) a share even though
its net profit plunged last year, the company said yesterday.

Jaya Pari, which operates a steel plant near Surabaya in East
Java, said its net profit plunged 98 percent last year because of
a 14 percent drop in its steel plate sales prices and a rise in
raw material prices.

The company said the domestic price of steel plates was
depressed by cheap imports from Russia, Ukraine, China and India.

But the company's sales rose 16 percent in value to Rp 63
billion last year, and 23 percent in volume. (nur/das)