February 18, 2008 / 8:36 AM / 11 years ago

Indonesia's Gajah Tunggal eyes 15 pct sales growth

JAKARTA, Feb 18 (Reuters) - Southeast Asia’s biggest tyre-maker, PT Gajah Tunggal Tbk (GJTL.JK), is aiming to boost its sales by 15 percent this year, supported by growing demand from foreign and domestic markets.

Marcello Taufik, Gajah Tunggal’s corporte communications officer, declined to give specific numbers but said 2007 sales revenue had risen by around 20 percent from 5.47 trillion rupiah ($596.8 million) in 2006.

“We are targeting a 15 percent increase from our sales figure of 2007. Demand from the domestic motorcycle market is firm as well as the foreign market,” Taufik told Reuters.

Tyre sales in Indonesia have been rising after the automotive sector staged a recovery following a fall in interest rates.

Analysts expect the company, 10 percent owned by French tyre-maker Michelin (MICP.PA), to post sales revenue of 6.3 trillion rupiah in 2007, and 7.07 trillion this year.

Its 2007 net profit is estimated at 167.6 billion rupiah in and likely jump to 244.5 billion this year.

Taufik said the company plans to increase its daily car tyre production capacity to 35,000 units from 30,000 units last year.

The company, which is controlled by tycoon Sjamsul Nursalim, said it will also boost its motorcyle tyre production capacity by 33 percent to 60,000 pieces per day to meet growing demand.

$1 = 9,165 rupiah Reporting by Mita Valina Liem, editing by Ben Tan

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