Semen Gresik expected top post strong profit growth until 2009

Semen Gresik expected top post strong profit growth until 2009
Published: 18 September 2007

The profit before interest and tax of state-owned cement manufacturer PT Semen Gresik  is predicted to grow 14 per cent annually from 2007 to 2009.

Growing domestic demand is the main driver for the increase in profit of the country’s largest cement maker, a research by Citigroup said.

Its income is estimated to grow 11 per cent annually during the same period with cement prices forecast to rise 9 per cent, the research added.

The company including its two subsidiaries PT Semen Padang and PT Tonasa, had an annual production capacity of 16.92 million tons in 2006 with a market share of 46.4 per cent in he country. Its annual exports, however, are predicted to grow only 3 per cent as against 11 per cent in 2006.