Feb 1, 2011

GJTL FY10 sales to exceed US$1 bio

With export demand picking up and domestic sales being strong on the back of Indonesia's growth, tire maker PT Gajah Tunggal Tbk (GJTL) managed to exceed US$1 billion in net sales in 2010, for the first time in its history.
In 2011, the year in which Gajah Tunggal will proudly celebrate its 60th anniversary, the management sees good sales growth ahead, despite pressures from increasing raw material pricing.
In an official statement obtained by Insider Stories today, building on solid financial performance and increased investor awareness, the tire maker also has entered the LQ-45 index.
This index is compiled by research and development division of Indonesia Stock Sxchange, and includes 45 companies based on transaction value, market cap, good financial conditions and growth prospects.
The inclusion is a confirmation of the quick recovery of the Company after the global automotive crisis, which spurred strong domestic and international investor interest. 

Disclosure: No position at the stock mentioned above.  

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