Surabaya Agung's profit

SURABAYA (JP): Publicly listed PT Surabaya Agung Industri Pulp & Kertas announced over the weekend that its net profit dropped dramatically to Rp 5.1 billion (US$2.08 million) last year from Rp 29.22 billion in 1995.

The pulp and paper producing company said after its shareholders meeting here that net sales decreased by 16 percent to Rp 240 billion (US$98.03 million) last year.

The company said the decline in sales was caused by a sharp decrease in the price of paper and cardboard last year.

To increase sales, the company said it would produce uncoated and coated wood-free and wood-containing paper this year at a capacity of 110,000 tons a year. (das/nur)