JAKARTA (Yosefardi) – Tire producers suffered losses in the first nine months to September of 2015 period, due to foreign exchange (forex) loss as a result of the rupiah’s significant drop.
PT Gajah Tunggal Tbk (GJTL) suffered loss of Rp749.67 billion in the period, against profit of Rp236.09 billion in the corresponding period of 2014.
Sales declined 1.4% to Rp9.54 trillion from previous Rp9.68 trillion. Cost of sales fell 2.7% to Rp7.72 trillion. GJTL also recorded foreign exchange (forex) loss of Rp1.1 trillion, compared to loss Rp46.27 billion a year earlier.
PT Multistrada Arah Sarana Tbk (MASA) also suffered loss of US$17.25 million, against profit of US$1.19 million a year earlier.
Sales declined 15.8% to US$186.46 million from previous US$220.8 million. The company also recorded foreign exchange (forex) loss of US$7.91 million.
PT Goodyear Indonesia Tbk (GDYR) reported loss of US$1.13 million in the period, against profit of US$134,923 a previous year. Sales fell 8.26% to US$111.38 million.