GUDANG GARAM RECORDS 60.75-PCT HIKE IN PROFIT

Jakarta, July 31 (ANTARA) - Cigarette maker PT Gudang Garam enjoyed 60.75 percent increase in its net profit in the first quarter to Rp1.432 trillion from Rp891.358 billion in the same period last year.

The profit hike came after corporate sales rose a bit by 0.057 percent to Rp15.065 trillion, compared to Rp15.056 trillion in the same period last year, it said in a financial report issued here on Thursday.

The company meanwhile reported 4.95 percent decline in sales burden in the period to minus Rp508.284 billion compared to Rp484.267 billion in the same period before.

The company's profit before corporate income tax in the first semester rose 61.75 percent to Rp2.124 trillion, compared with Rp1.313 trillion in the same period last year.

The company meanwhile recorded a rise in total assets in the period to Rp25.064 trillion, compared to Rp24.904 trillion in the same period last year.

The company shares were traded up by Rp550 or 4.18 percent to Rp13,700 per share in the first session of trading at the Jakarta Stock Exchange on Thursday.