JAKARTA (Yosefardi) – Tire manufacturer PT Gajah Tunggal Tbk (GJTL) recorded net sales of Rp6.56 trillion in first half of 2014, grew by 7% from Rp6.13 trillion in the same period of 2013.
External sales of tire reached Rp6.14 trillion, a 7% rise. Sales to America jumped 54% to Rp1.13 trillion. While domestic sales was Rp4.08 trillion, a flat sale.
However as cost of sales rose 12.7% to Rp5.46 trillion, cost of raw materials increased 7.3%, and manufacturing expenses rose 15.5%, GJTL’s profit dropped 50% to Rp228.29 billion from previous Rp459.5 billion. GJTL has cash and cash equivalent of Rp1.01 trillion.