PT Indocement - March 2017
PT Indocement recorded net revenue of IDR15.36trn (US$1.15bn) in 2016, down from IDR17.8trn in 2015 and IDR19.9trn the year before. The order in early 2015 by President Joko Widodo to lower the price of cement is being blamed for the fall. The company has tried to counter the drop in price by various efficiency measures, resulting in the cost of goods sold contracting by 8.7 per cent in 2016. However, net profit still declined, falling from IDR4.36trn in 2015 to IDR3.87trn in 2016.
