Asahimas: Jan-Sept net profit 47% higher

Indonesian safety glass producer PT Asahimas Flat Glass“s net profit for the nine months to September 2005 was IDR 199.54 billion, 47% higher than the net profit of IDR 135.29 billion it made in 2004…

Indonesian safety glass producer PT Asahimas Flat Glass“s net profit for the nine months to September 2005 was IDR 199.54 billion, 47% higher than the net profit of IDR 135.29 billion it made in 2004 because of stronger sales and cost efficiencies. The company said January-September 2005 sales increased 26% to IDR 1.31 trillion from IDR 1.04 trillion a year before. Operating profit increased 50% to IDR 286.70 billion from IDR 191.09 billion. It said cost efficiencies pushed the gross margin up to 36% from 34% a year earlier and the operating margin to 22% from 18%.