JAKARTA (Yosefardi) – Ceramic producers posted lower profit and revenues in the first quarter of this year along with the slowing down of economy.
PT Mulia Industrindo Tbk (MLIA) booked net profit of Rp44 billion, dropped 88% from the same period of 2014, as revenues declined 2.3% to Rp1.36 trillion. Ceramic sales fell 10% to Rp1.16 trillion while sales of flat glass, bottle, glass rose 5% to Rp1.24 trillion.
MLIA is primarily engaged in manufacturing and distributing float glass, glass containers, glass blocks and automotive safety glass. It is also engaged in manufacturing and distributing wall and floor ceramic tiles.
PT Arwana Citramulia Tbk (ARNA), also manufactures ceramic tiles, also posted net profit of Rp40 billion, fell 48.6% as revenues declined 12.2% to Rp359 billion.
PT Keramika Indonesia Assosiasi Tbk (KIAS), engaged in manufacturing ceramic tiles and their accessories, booked net profit of Rp16 billion, a 48.3% drop, as revenues fell 12.9% to Rp209 billion. (rully@yosefardi.biz)