JAKARTA (Yosefardi) – Tire manufacturer PT Goodyear Indonesia Tbk (GDYR) reported 22% sales decline to US$79.24 million in first half of 2014, compared to US$101.66 million in the corresponding period of 2013.
Cost of sales declined 17% to US$70.8 million from previous US$85.77 million. Then profit dropped 95% to US$279,642 against US$5.69 million a year earlier.
Sales to Goodyear & Dunlop Tyres (Aust.) Pty Ltd declined 33.6% to US$11.73 million. By portion, sales to related parties declined to 42% from previous 47%. Then its inventory of finished goods jumped 89% to US$10.49 million.
Sales of tires fell 22% to US$78.74 million from previous US$101.15 million. Domestic sales declined 13% to US$46.2 million.