Suparma's sales up 76%

JAKARTA (JP): Publicly listed paper and carton manufacturer PT Suparma said yesterday it booked sales of Rp 91 billion (US$6 million) in the first quarter of this year, up 76 percent compared to the same period last year.

The Surabaya-based company said the sharp rise was due to a surge in exports, which jumped 172 percent year-on-year.

It predicts sales will rise 59 percent to Rp 270 billion this year from Rp 170 billion last year.

Exports will account for 50 percent of total production this year, compared to 25 percent last year, it said.

Suparma suffered Rp 7.7 billion in losses last year, due to the rupiah's sharp depreciation against the U.S. dollar. (das/nur)