United Tractors' profit up

United Tractors' profit up

JAKARTA (JP): PT United Tractors, the heavy machinery subsidiary of PT Astra International, reported yesterday a 28.90 percent increase in its net profits to Rp 46.04 billion (US$20.7 million) in 1994 from Rp 35.72 billion in 1993.

The company's management reported to the annual general shareholders meeting that the earnings per share thus rose to Rp 334 last year from Rp 259 in 1993.

The meeting approved the management's proposal to pay out Rp 15.18 billion or 33 percent of the profits in dividends or Rp 110 per share.

United Tractors, which went public in 1989, said it had developed new products such as side shifters, dump hoists, cane grapple and log grapple as attachments to its heavy machinery.

The company also told the shareholders that its subsidiary, PT Pandu Dayatama Patria, which assembles diesel and gasoline engines, has been appointed as the assembler of BMW car engine in Indonesia. (vin)