Asahimas to pay out 20% of net profit as dividend

The shareholders“ meeting of Indonesia“a PT Asahimas Flat Glass Tbk voted on 3 June 2005 to pay a IDR 100 per share dividend for 2004. This is equivalent to IDR 43.4 billion or 20.99% of the IDR 206…

The shareholders“ meeting of Indonesia“a PT Asahimas Flat Glass Tbk voted on 3 June 2005 to pay a IDR 100 per share dividend for 2004. This is equivalent to IDR 43.4 billion or 20.99% of the IDR 206 billion net profit from 2004. The meeting also approved the appointment of Prasetio, Sarwoko & Sandjaja, a member of Ernst & Young, to audit the company in 2005. In 2004, Asahimas booked net sales of IDR 1.56 trillion, compared to IDR 1.36 trillion for the previous year. The cost of sales and operating cost rose slightly. Operating profit increased significantly from IDR 238 billion to IDR 301 billion. The company booked exchange rate losses of IDR 12.33 billion, compared to IDR 16.97 billion in the previous year. For the 1Q 2005, net sales rose by 12% to IDR 387 billion from IDR 345 billion in the same period of 2004. The increase was mainly due to domestic sales, which were up 23.7%. Export sales were relatively stable. In line with the higher sales, gross profit increased 29% to IDR 151 billion from IDR 117 billion in the same period of 2004.