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Jakarta (ANTARA News/Asia Pulse) - Indonesian tire maker PT Gajah Tunggal (JSX:GJTL) reported a net profit of Rp905.33 billion (US$98.4 million) in 2009, against a net loss of Rp624.79 billion in the previous year.

Gajah Tunggal president Christopher Chan Siew attributed the improved financial performance of his company to foreign exchange gain with net sales falling slightly by 0.25 per cent.

Last year, the company posted Rp486.89 billion in foreign exchange gain as against a loss of Rp786.36 billion in 2008.


Source:
Business in Asia Today - March.22, 2010
published by Asia Pulse

Editor: Ricka
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