Indonesia’s Semen Gresik sees net profit up 31 per cent this year

Indonesia’s Semen Gresik sees net profit up 31 per cent this year
Published: 02 January 2008

Indonesian cement maker  PT Semen Gresik is expecting net profit to increase by about 31 per cent to 1.7 trillion rupiah this year, helped by higher sales and improved cost efficiencies, the company’s deputy president Rudiantara said late Thursday.  
 
Earnings before interest, tax, depreciation and amortization (EBITDA) is expected to rise to 2.85 trillion rupiah from 2.2 trillion a year before.  
 
In the first nine months,  Semen Gresik, the largest cement maker by sales volume, made net profit of 1.27 trillion rupiah, up 23 percent from a year earlier. Sales grew 8.4 percent to 7.09 trillion rupiah.  
 
"Our focus next year is to increase profitability while maintaining our market share of 45 percent," said Rudiantara.  
 
Domestic cement consumption is expected to grow by seven per cent next year, at the same expected pace this year, he said.  
 
Semen Gresik’s production capacity is expected to rise to 17.7Mta next year and to 18.4Mt in 2009 from 17.1Mt this year. 
 
In the first 11 months,  Semen Gresik sold 15.49Mt of cement against 15.22Mta earlier.