Semen Gresik nine months domestic cement sales up 1.8 per cent

Semen Gresik nine months domestic cement sales up 1.8 per cent
Published: 12 October 2007

Indonesia’s largest cement producer PT Semen Gresik said Thursday it sold 11.25Mt of cement in the domestic market during the first nine months, an increase of 1.8 per cent from a year ago.

In the same period, nationwide cement consumption rose 6.8 per cent to 25.2Mt.

Semen Gresik’s domestic sales grew at a slower pace than industry-wide sales mainly because the company has been focusing on boosting its margins rather than market share, said Agung Wiharto, an investor relations official at the company told Thomson Financial.

He said the company aims to maintain its market share at around 44-45 per cent..

Semen Gresik’s domestic cement sales is projected to grow by 4 percent this year from 14.94Mt in 2006. The pace is slower than the industry-wide growth, which is estimated at over six per cent, he said.

He said Semen Gresik will boost its exports as long as it does not cause a squeeze in margins.

In first nine months, Semen Gresik exported 1.37Mt of cement, up 16.3 per cent from a year ago.