Indonesia's Pan Brothers profits up 50% on increasing sales

Publicly listed Indonesian clothing producer Pan Brothers has achieved a substantial rise in profits last year on the back of surging domestic sales and Asian exports.

Announcing its latest financial results, the company managed to boost profits to US$10.5m, 50.8% higher than the US$6.9m in 2012. The profit growth was supported by an 18.5% year-on-year increase in sales, which rose to US$339.7m last year, from US$286.6m in the previous year.

Pan Brothers used to produce almost entirely for European brand-name clients, but it has started to ship some of its products to the burgeoning Asian market to help cushion a slowdown in its conventional export markets. The company has also continued to achieve higher sales on the domestic market, growing much faster than that of its overseas trade.

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