Mulia expects robust growth in 1995 sales

Mulia expects robust growth in 1995 sales

JAKARTA (JP): Mulia Industrindo, a manufacturer of glass and
ceramic tiles, listed on the Jakarta and Surabaya stock
exchanges, expects a sharp increase in sales this year on higher
demand and production capacities, an executive of the company
said.

Hendra Heryadi, the company's marketing director, said Tuesday
the estimated higher sales volume is expected to nearly double
the net profits to Rp 65 billion (US$29.5 million) this year from
Rp 37 billion in 1994.

Hendra said the demand for ceramic tiles and flat glasses will
continue to increase in line with a continued growth in the
construction of housings, apartments and office buildings in the
country.

"The demand for glass containers is expected to strengthen on
the impact of the estimated 20 percent growth in the food and
beverage industry," he told the company's annual shareholders
meeting.

The meeting endorsed the company's 1994 balance sheet and the
company's proposal to pay a cash dividend of Rp 40 per share (1.8
U.S. cents).

Mulia Industrindo, 80 percent owned by the widely diversified
Mulia Group and 20 percent by the public, produces 3,700 square
meters of ceramic tiles per day, 600 tons of glass containers per
day and 600 tons of flat glass per day.

The company reported a 47 percent rise in its sales revenue in
1994 to Rp 234.79 billion, while its operating incomes soared by
around 96 percent to Rp 71.53 billion.

The net profits for the book year, ended on Dec. 31, rose by
229 percent to Rp 37 billion from Rp 11.26 billion in the
previous year.

Hendra said about Rp 9 billion of the total net profits would
be distributed as dividends to shareholders and the remainder
would be used to strengthen the company's capital structure.
(hen)