Indocement nine month net profit up 3.6 per cent

Indocement nine month net profit up 3.6 per cent
Published: 02 November 2006

PT Indocement Tunggal Prakarsa Tbk , reported a 3.6 per cent rise in its nine-month net profit despite higher costs which pushed its operating profit lower.

The company’s financial statement, showed a net profit of IDR557.84bn ($61m) for the January-September period compared to IDR538.27bn a year ago.

Sales jumped 15.7 per cent to IDR4.82 trillion rupiah and gross profit rose 12.2 per cent to IDR1.75 trillion.

The company, controlled by HeidelbergCement , saw its gross margin fall to 36.3 per cent by the end of September from 37.4 per cent a year ago and its operating profit margin fell to 19.9 per cent from 23.8 per cent over the period.

Indocement’s chief financial officer, Christian Kartawijaya, had said the company sold 9.9Mt of cement in the January-September period compared to 9.2Mta year before, mostly due to higher exports.