Amid the slower cement market on the first half of the year, PT Semen Gresik Tbk (SG) set the sales growth target of 6.24% to IDR8 trillion from IDR7.53 trillion last year.
"We will boost our export if the domestic market will not improve. We will do that as the export price is interesting, as much as US$35 to US$40 per ton," said the Finance Director of Semen Gresik Cholil Hasan in a public expose yesterday.
The company’s AGM approve the allocation of IDR735bn from the net profit for capital expenditure. As much as IDR250bn will be used to finance the development of the facility.
The President Director of Semen Gresik Dwi Soetjipto said the rest of the fund will be used to improve the distribution system, especially to develop some terminals closed to the consumer.
"To develop the new facility, I can not explain it at the present time, as it is subject to the EGM approval next July," he said.
The AGM also approved the final dividend of IDR443 per share or 25.7% of the last year’s net profit. The government, controlling 51.01% shares, got IDR134 billion, while the public dividend was IDR61.63bn.
Last year, the company posted the net profit of IDR1.02 trillion, an increase of 100.2% from IDR508 billion in 2004.
The higher net profit was due to the higher domestic sales to 14.27Mt from 13.37Mt in 2004.