Tancho reports profit rise

Tancho reports profit rise

JAKARTA (JP): PT Tancho Indonesia, a company producing cosmetics, will distribute 50 percent of its 1994 net profit, in the form of cash dividends worth Rp 5.2 billion (US$2.3), to its shareholders.

The company stated yesterday that the cash dividends, worth Rp 400 per share, will be paid on July 20.

The company, which started its commercial production in 1971, reported that its sale revenues increased by 34.2 percent to Rp 101.21 billion in 1994, while its net profit grew by 35.7 percent to Rp 10.65 billion.

Tancho's total assets reached Rp 100.65 billion as of last December, up 25.07 percent from the previous year, it said.

The company also exports plastics to some countries, including Japan, it said.

In addition, the company's shareholders approved, in their meeting Thursday, the distribution of 13 million bonus shares worth Rp 13 billion, on the basis of one bonus share for one existing share. (32)