Gajah Tunggal Profits Rise 188%

Indonesia’s largest tyre manufacturer, PT Gajah Tunggal Tbk, has reported a 188 per cent increase in net profit during the first half of the current financial year. During the six months to June 30, 2010, the company attained profits of Rp 415 billion (£29.3 million) on the back of revenues equalling Rp 4.8 trillion (£339.8 million), a 27 per cent year-on-year increase. Operating profit jumped 176 per cent to Rp668 billion (£47.3 million) due to a decrease in operating expenses.