Holcim Indonesia reports 22% fall in net profit

Holcim Indonesia reports 22% fall in net profit
Published: 04 August 2009

PT Holcim Indonesia said net profits fell 21.78 per cent to IDR280bn (US$28m) in the first half of 2009 despite an increase in sales.

Rusli Setiawan, Holcim relationship management director, said high cost of fund and falling value of rupiah against the US dollar contributed to the decline in net profit.

The company paid US$195m in loan interest in the first six month of the year, Rusli said.

He said, the Indonesian units of Holcim Ltd recorded a 15 per cent increase in sales to IDR2.35trn YoY in the first six months of this year.