Fajar Surya Wisesa 1Q Net Profit Plunges 96.31%

Industrial paper manufacturer PT Fajar Surya Wisesa Tbk (FASW) booked net pofit of IDR2.463 billion (IDR0.99 per share) during the period of January-March 2007, falling sharply by 96.31% from IDR66.701 billion (IDR26.92 per share) in the same period of 2006.The net profit fell sharply, possibly because of other net expenses that reached IDR57.538 billion versus other net revenues of IDR66.337 billion, which made the pre-tax profit stumble by 95.72% from IDR96.289 billion to IDR4.124 billion.Yet, the net sales climbed up by approximately 49.13% from IDR368.889 billion to IDR550.142 billion, which boosted the gross profit by 69.79% from IDR53.763 billion to IDR91.282 billion although the cost of goods sold (COGS) rose from IDR315.126 billion to IDR458.861 billion.