Indonesia’s Semen Gresik Q3 net profit up 15.4 pct

Indonesia’s Semen Gresik Q3 net profit up 15.4 pct
Published: 23 October 2008

Indonesia’s largest cement producer, PT Semen Gresik Tbk, saw a 15.37 per cent rise in its third-quarter net profit, according to Reuters calculations, showing a mild slowdown after robust growth in previous quarters.

The state-owned firm’s July-September net profit climbed to IDR660.32bn (US$66.73m) from IDR572.36bn reported in the same period a year ago, based on calculations from its published nine-month and first-half results.

Semen Gresik recorded a 16.54 per cent increase in sales revenue to IDR3.10trn from IDR2.66trn in the same quarter a year ago. Semen Gresik’s sales in the July-September period fell 9.54 per cent to 4.27Mt sales from 4.72Mt in the year-ago period.