Gresik expects improved 2005

Gresik expects improved 2005
Published: 30 November 2004

PT Semen Gresik expects to book IDR500 billion in net profit next year because of rising demand for cement, a company official said Tuesday. Gresik’s chief financial officer Cholil Hasan said the company expects this year’s net profit to be between IDR400 billion and IDR450 billion. He told reporters that the company’s sales are expected to rise between 8% and 10% next year from IDR5 trillion predicted this year because domestic demand for cement is expected to rise. "We expect that the growth in demand for cement in the country next year to be the same as this year’s growth of 9%," Cholil said. The company will stop exporting cement next year and will focus on meeting local demand for the product, he added.