Semen Indonesia net profit down by 3% in 2016

PT Semen Indonesia Tbk made a net profit of IDR4.01trn (US$301.6m) in 2016, which was lower than the IDR4.52trn the previous year.

"National cement growth in the year was down three per cent due to the presence of new industries and the projection of a negative 1.1 per cent growth in December," said Rizkan Chandra, president and director of the company.

Mr Chandra went on to say how the company’s Tuban plant was performing well, with production at the plant reaching 1,381,907t, five per cent above the RKAP (work and budget plan), which was set at 1,304,400t. This figure is a two per cent improvement on the production levels achieved in 2015.