Polysindo's profit up

JAKARTA (JP): Publicly listed PT Polysindo Eka Perkasa posted a 59 percent increase in net profit to Rp 123.4 billion (US$46.56 million) in the first semester this year from Rp 77.3 billion in the same period last year.

The company said yesterday it recorded a 58 percent increase in net sales to Rp 1.03 trillion in the January to June period this year from Rp 654.1 billion in the corresponding period last year.

The company attributed the improved financial performance to a higher production and sales volume.

The company recently increased the production capacity of polymer, polyester fiber and fabrics.

Polysindo Eka Perkasa, listed on the Jakarta and Surabaya Stock Exchanges (JSX), is a leading polyester manufacturer in Indonesia. (aly)