Texmaco's profit up 45%

JAKARTA (JP): PT Texmaco Jaya said yesterday that it booked a net profit of Rp 29 billion (US$12 million) in the first six months of this year, an increase of 45 percent over the same period last year.

Texmaco's president, Marimutu Sinivasan, said that the company recorded a 43 percent increase in revenues to Rp 221 billion from January to June this year.

"The stronger performance was attributable to the sales volume of our textile products, supported by the operation of our new distributors and branch offices," Marimutu noted.

Texmaco's total assets presently stand at Rp 662 billion.

Meanwhile, PT Polysindo Eka Perkasa, the country's largest polyester producer and sister company of the Texmaco Group, booked a profit of Rp 77 billion in the first half of this year, a rise of 28 percent over the same period of last year.

Polysindo's sales revenue increased 62 percent to Rp 654 billion in the first half of the year.

Polysindo currently has total assets of Rp 2.9 trillion, up from Rp 2 trillion at the end of last year. (alo)