Slight H1 profit increase at Gajah Tunngal
While Indonesia’s PT Gajah Tunggal Tbk is reported to have increased its sales 20.8 per cent year-on-year to Rp 5.8 trillion (£414.0 million) in the first half of 2011, selling costs increased 32 per cent to Rp 5.05 trillion (£289.1 million), leading to a 22.7 per cent drop in gross profit to Rp 768.79 billion (£54.9 million). Operating profit in the first half also declined, by 34 per cent year-on-year to Rp 441.4 billion (£31.5 million). The manufacturer of the GT Radial brand reported net profits of Rp 421.9 billion (£30.1 million) for the six-month period, up 1.4 per cent year-on-year.