Indonesia’s largest cement producer PT Semen Gresik said its net profit in 2010 was estimated at IDR3.5trn (US$390m), up from IDR3.3trn in the previous year.
The increase in net profit was attributable to cost efficiency, Dwi Soetjipto, the president of the state company, said yesterday.
Soetjipto said the financial performance would have been better barring earthquake that interrupted the process of production in one of its subsidiaries in Padang, West Sumatra.
Income last year was expected to be not much higher than 2009’s record of IDR13.7trn, he said. This year, however, the company is set to see a 10 per cent increase in income and profit, with capacity expanded by 1.5Mt, Soetjipto said.