Holcim Indonesia reports higher profits

Holcim Indonesia reports higher profits
Published: 03 May 2006

The country’s third largest cement producer PT Holcim Indonesia reported Rp219.92 billion (US$24.5m) in net profit in the first quarter of this year as against a net loss of Rp138.95 billion in the same period last year. 
 
 The improvement in performance was attributable mainly to a foreign exchange gain of Rp338.6 billion in the first three months of this year as against loss of Rp74.78 billion in the same period in 2005, the publicly traded company said in a report. 
 
Efficiency also contributed to improved performance of the company reducing operating loss to Rp2.29 billion from Rp43.2 billion in a year ending March 31, the report says.  Holcim Indonesia is 77.3 per cent owned by Swiss Holcim Ltd.