Holcim Indonesia swings to US$15m net profit

Holcim Indonesia swings to US$15m net profit
Published: 20 September 2006

The country’s third largest cement maker, PT Holcim Indonesia  has reported an improved financial performance in the first half of this year, largely on foreign exchange gains. 

The company posted a foreign exchange gain of Rp252.03 billion (US$27.61 million) in the first six months of this year compared to foreign exchange losses of Rp177.41bn in the same period last year. 

Its net profit was Rp139bn (US$15.23m) as against a net loss of Rp218bn in the first half of 2005, despite a slight decline in sales - from Rp1,409bn to Rp1,379bn. 

Company president Tim Mackay said in a statement that sales declined especially in the first quarter of this year and an increase was recorded only in the first two months of the second half of the year.