Mulia expects higher profits

JAKARTA (JP): Publicly listed ceramic tile and glass maker PT Mulia Industrindo expects a 56 percent rise in net sales to Rp 810 billion (US$339 million) this year from Rp 291 billion in 1996.

The company announced yesterday its net profit rose 65 percent to Rp 113.1 billion from Rp 68.5 billion in 1995. This year's net profit is expected to rise 43 percent in 1997 to Rp 162 billion, the company said.

The increase in profit and sales will be because of the company's expansion of its production facilities in 1995 and 1996.

Its float glass division obtained ISO 9002 certification in November 1996. This division expects to increase annual production to 595,000 tons from 385,000 tons.

The company expects to increase its share of the glass container market because of growing demand from the country's food and beverage industry.

The company recently completed its third glass container production unit which will increase the company's production capacity to 175,000 tons from 35,000 tons.

Ceramic tiles make up 80 percent of Mulia's sales and the firm will increase tile production to 52,500 square meters this year from 42,000 square meters in 1996 to meet growing demand from local and overseas markets. (10)