Semen Indonesia 9M14 profit up 4.9%

Semen Indonesia, the country's leading cement producer, recorded a net profit of IDR4.09trn (US$336.3m) in the first nine months of this year, a 4.9 per cent increase from the IDR3.9trn recorded a year earlier.

The state-owned producer’s revenues surged by 10.9 per cent during the January to September period to IDR19.3trn from IDR17.4trn in the same period of last year. However, a foreign exchange loss of IDR56.3bn as of the third quarter of this year, more than a double from IDR22.6bn in the same period of last year.

Cement was the main revenue contributor with total sales of IDR15.2trn, or up 10.1 per cent YoY. The strongest growth, meanwhile, was experienced by ready-mix concrete segment, where sales surged to IDR312.1bn from IDR30.6bn a year earlier.