11 December 1997: The Indonesian glassmaker PT Mulia Industrindo recently announced a net profit of Rp 30.1 billion in the first nine months of 1997 against Rp 80 billion in the same period of 1996. S…
11 December 1997: The Indonesian glassmaker PT Mulia Industrindo recently announced a net profit of Rp 30.1 billion in the first nine months of 1997 against Rp 80 billion in the same period of 1996. Sales for the period totalled Rp 433.4 billion against Rp 355.5 billion in the same period in 1996. Mulia said in a statement that it had revised its 1997 year-end sales and net profit forecasts to Rp 615 billion and around Rp 50 billion respectively. The firm also said that, as a result of higher exports, it expects total sales to grow by over 35% in 1998. The fall in net profit was largely due to a rise in financing charges, including foreign exchange losses, amounting to Rp 93.4 billion in the first nine months of 1997 against Rp 36 billion in the same period last year, the company said.