Indonesia’s Gresik profit rise

Indonesia’s Gresik profit rise
Published: 05 December 2005

State cement firm PT Semen Gresik expects its full-year net profit this year to rise by about 50 per cent from R520.59bn in 2004 on better cost efficiency and cement prices, company president Dwi Sutjipto said. "Our efficiency has improved," Sutjipto told reporters.  He said Semen Gresik and its two units, PT Semen Padang and PT Semen, have improved their cement distribution network to avoid overlapping markets.  Higher cement prices also raised Semen Gresik’s bottom line, he added.

In the nine months to September, Semen Gresik’s net profit almost doubled to 706.37bn rupiah from 369.96bn a year earlier due to higher sales and lower interest charges. The profit exceeded the company’s previous full-year target of 600bn rupiah.