Semen Gresik to increase revenue by 4-5 per cent

Semen Gresik to increase revenue by 4-5 per cent
Published: 19 April 2004

PT Semen Gresik Tbk targeted that the revenue of the company will grow by 4 to 5 per cent this year in line with the assumption of the GDP of the country this year.  Satryo, one name, the president director of the cement company, said that the company set such target in line with the target of the government that the gross domestic product of the country will increase by 4 to 5 per cent.

He was sure that the revenue of the company will not be lower than the economic growth of the country.

"We hope that the revenue of company will not be lower than the economic growth of the country. But I talk only about Semen Gresik without mentioning the consolidation with Semen Padang," he said in the public expose of the company yesterday.  Satryo was sure about that as last year the company, without consolidating it with Semen Padang, booked some higher profits.

He explained that the company will set the capital expenditure of 3-4 per cent of the total assets of Semen Gresik. But he did not explain further about the sale of the company.

He went on saying that Semen Gresik group will have the market share of 45 per cent this year. Semen Gresik alone will have the market share of 23 per cent. The production rates of Semen Gresik, Semen Tonasa and Semen Padang in 2003 were 2.4Mt, 1.9Mt and 1.7Mt respectively.

The Finance Director of Semen Gresik, Cholil Hasan, said that in 2003 the company, without Semen Padang, got the revenue of IDR3tr and the net profit of the company was IDR290bn, or increased by 5 per cent from the net profit of 2002.  He added that the revenue of the company will be higher than the GDP of the country.  He is sure that the demand of cement in 2004 will be higher than that of last year.