Asahimas Flat Glass 1Q 2005 net up 16%

Indonesian flat and safety glass producer PT Asahimas Flat Glass said its 1Q 2005 to March net profit rose 16% to IDR 56.28 billion from IDR 48.54 billion a year earlier as sales grew faster than oper…

Indonesian flat and safety glass producer PT Asahimas Flat Glass said its 1Q 2005 to March net profit rose 16% to IDR 56.28 billion from IDR 48.54 billion a year earlier as sales grew faster than operating expenses. Asahimas“ 1Q 2005 sales rose 12% to IDR 387.17 billion from IDR 344. 97 billion a year earlier, faster than the cost of goods sold, which was up 3.0% to IDR 236.51 billion from IDR 228.5 billion previously. Over the same period, company operating expenses declined to IDR 53.91 billion from IDR 55.47 billion, resulting in a higher operating profit of IDR 96.74 billion, against IDR 61.34 billion previously. However, other non-operating charges increased to IDR 13.39 billion from IDR 6.57 billion a year earlier, when it also posted an IDR 18.71 billion one-time gain from the sale of fixed assets, the company said. The company“s 1Q 2005 net other charges were up at IDR 16.43 billion from IDR 7.79 billion in the same period in 2003. (USD 1 = IDR 9,528)