JAKARTA (Yosefardi) – Tire manufacturer Gajah Tunggal (GJTL) booked net profit of Rp228.29 billion in first half of 2014, dropped 50% from Rp459.5 billion in the corresponding period of 2013.
Net sales increased 7% to Rp6.56 trillion from previous Rp6.13 trillion. But cost of goods sold also rose 12.7% to Rp5.46 trillion from earlier Rp4.85 trillion.
Tire sales for Java region totaled Rp2.55 trillion and sales to outside of Java reached Rp1.52 trillion.
Tire export to America was Rp1.136 trillion, Asia Rp516 billion, Middle East Rp333.48 billion, Europe Rp316.6 billion, and Africa Rp133.7 billion.
GJTL’s assets totaled Rp15.54 trillion while liability amounted Rp9.64 trillion. The company has cash and cash equivalent of Rp1.01 trillion.