Gresik eyes 10% rise in income in 2012

Gresik eyes 10% rise in income in 2012
Published: 28 November 2011

Indonesia’s largest cement producer PT Semen Gresik said it hopes to post a 10 per cent growth in income to IDR16.5trn (US$1.85bn) next year from this year’s target of IDR15trn.

Last year Semen Gresik recorded income at IDR14trn.

Dwi Soetjipto, the president of the state company, said net profit may be around 8 per cent-10 per cent of total income this year and next year.

In the first nine months of the year, the company already recorded Rp11.5 trillion in income or 76.6 per cent of the target.

Rising price of coal, its main fuel, is curbing growth in the company’s financial performance as cement prices are relatively unchanged, Dwi said yesterday.

The company sets production target at 20Mt this year not including production from its subsidiaries PT Semen Padang in West Sumatra and PT Semen Tonasa in South Sulawesi.