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Gajah Tunggal Reach USD 905 Million Profit

Jakarta (ANTARA) - Manufacturers of cars and motorcycles tires PT Gajah Tunggal Tbk (GJTL) during 2009 net profit of Rp 905 billion compared to 2008 which suffered a loss Rp 625 billion.

Press release received here on Friday said, the operational performance is good enough is the main driving factor achieving the company's net profit, supported by foreign currency transaction gains from corporate bonds in U.S. dollars, as well as additional contribution results from associated companies PT POLYCHEM Indonesia, for profit USD 16 billion in 2008 compared to a loss of Rp 76 billion.

It is said, the company net sales of approximately USD 7.936 trillion, or thin down compared to Rp 7.963 trillion in 2008. Total volume of sales in the year 2009 also experienced a decline caused by the declining volume of sales to export markets.

Meanwhile, the company's gross profit in 2009 rose by 60 percent to Rp1, 822 trillion compared to Rp 1.135 trillion in 2008.

This is because the company managed to obtain benefits from declining raw material costs in the mid-2009.