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Company News
Gudang Garam Profit Falls Almost 50 Percent
The Jakarta Post, page 14 (29-July-2006)
PT Gudang Garam’s first-half profit fell 49 percent on higher operational and interest costs. Net income fell to Rp.545 billion (US$ 60 million), or Rp.283 a share, in the six months to June 30 from Rp.1.07 trillion, or Rp.556, a year earlier. Sales rose 3 percent to Rp.12.7 trillion. First-half profit was 32 percent of the Rp.1.68 trillion median full-year estimate in a Thomson Financial Survey of 13 analysis. Demand has slowed because of competition, higher tobacco taxes and lower consumer spending. Gudang Garam had a 23 percent increase in first-half operating costs which rose to Rp.1.25 trillion from Rp.1.02 trillion a year earlier. Interest cost jumped 52 percent to Rp.304.9 billion. Gudang Garam’s market share fell to 30 percent in 2005 from 33 percent in 2004. The company is facing increasing competition from PT HM Sampoerna. Gudang Garam Will share Dividends Rp.500 Per Share
Bisnis Indonesia, page B1 (26-June-2006)
PT Gudang Garam has agreed to share its dividends this year as much as 51 percent from its 2005 net profit, which is equal to around Rp.962 billion, Rp.500 per share. This sharing of dividends is lower than last year when the company shared around 54 percent of the net profit in 2004. In 2005, the company’s net profit reached Rp.1.89 trillion, up 5.5 percent from 2004’s profit.
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