Indonesia’s Gresik first half profit up 9.5 per cent

Indonesia’s  Gresik first half profit up 9.5 per cent
Published: 27 September 2007

Indonesia’s largest cement maker  Semen Gresik said Thursday its first-half net profit rose 9.5 per cent to IDR700bn (US$76.5bn) from a year earlier, on higher sales and better cost efficiencies.  

Company president Dwi Soetjipto told reporters sales in the first half of 2007 rose 8.31 per cent to 4.43 trillion from a year earlier.  

Semen Gresik owns two main cement units, Semen Padang in West Sumatra province and  Semen Tonasa on Sulawesi island.  

Soetjipto said  Semen Gresik, as the parent company, contributed 47.7 per cent to total sales in the first half, followed by Semen Padang contributing 34.5 per cent and  Semen Tonasa contributing 17.8 per cent.  

He said Semen Gresik’s market share in the first half stood at 46.5 per cent.  

In a statement, the company said its operating profit in the first-half rose 5.46 per cent to IDR939.57bn from a year earlier.  

The company said it sold a total of 7.9Mt of cement in the first half, up 5.6 per cent from a year earlier. Domestic sales accounted for 90 per cent of total sales, it said.  

It said the domestic average selling price firmed slightly by 0.2 per cent YoY, while the export selling price increased 7 percent.