Gresik first half net profit up 7.9%

Gresik first half net profit up 7.9%
Published: 02 August 2010

PT Semen Gresik Friday said first half net profit rose 7.9% to IDR1.63trn from IDR1.51trn a year earlier, thanks to a drop in cost of sales and lower income tax.

Sales dropped 1.6% to IDR6.66trn from IDR6.77trn a year earlier.

The cost of sales, however, fell 7.2% to IDR3.5trn from IDR3.77trn a year earlier, driving the company’s gross profit up to IDR3.16trn from IDR2.99trn a year earlier.

For the six months ended June 30, income tax dropped to IDR540.22bn from IDR561.91bn a year earlier, the nation’s largest cement maker by sales said in a statement.