Indocement predicts slowing revenue growth in 2009

Indocement predicts slowing revenue growth in 2009
Published: 25 November 2008

PT Indocement Tunggal Prakarsa of Indonesia foresees single-digit growth in revenue next year as cement demand in Indonesia is forecast to slide 5% from 37.9Mt expected this year, a company official said Tuesday.

Such a drop will "significantly affect" Indocement, said Christian Kartawijaya, Indocement’s finance director.

The company expects its revenue to grow by up to 22% this year from last year, Kartawijaya said.