Semen Gresik expects 2009 net profit above IDR3trn

Semen Gresik expects 2009 net profit above IDR3trn
Published: 16 September 2009

PT Semen Gresik expects net profit to likely rise to above IDR3 trillion this year from IDR2.52 trillion (US$253m) last year, supported by rising cement sales.

Cholil Hasan, finance director of Indonesia’s largest cement producer by volume told Dow Jones Newswires late Tuesday that the company’s revenue will likely increase to over IDR13 trillion from IDR12.2 trillion last year.

Hasan said domestic cement sales started to pick up in August.

"Cement sales volume is expected to continue to increase, which will boost the company’s net profit and revenue," Hasan added.

The state-owned cement company sold 1.6Mt of cement in August, up nearly 20% from a year earlier.