PT Asahimas Flat Glass: 1H 2005 net profit up 83%

Safety glass producer PT Asahimas Flat Glass said it posted a net profit of IDR 135.51 billion during the 1H 2005 to June, a year-on-year increase of 83% due mainly to stronger sales.
The company sai…

Safety glass producer PT Asahimas Flat Glass said it posted a net profit of IDR 135.51 billion during the 1H 2005 to June, a year-on-year increase of 83% due mainly to stronger sales. The company said its sales rose 22.4% to IDR 846.36 billion in the 1H 2005 from IDR 691.46 billion a year earlier. The firm said that due to cost efficiencies, gross margin increased to 37.83% from 32.82%. Operating profit rose at a faster pace of 74.8% to IDR 198.20 billion from IDR 113.42 billion in 2004 as operating costs increased by a modest 7.36% to 121.94 billion. The bottom line was further boosted by a decline in net “other charges“ to IDR 6.62 billion from IDR 9.97 billion a year earlier, it said.