Semen Gresik posts US$104 million profit
The largest cement producer PT Semen Gresik Tbk reported net profit of US$104 million last year, doubled from Rp508 billion in 2004, thanks to improved margin and lower interest expenses.
According to its financial report published today, Semen Gresik recorded total sales of Rp7.53 trillion last year, a 24% growth from Rp6.067 trillion in 2004.
Even though its operating expenses increased significantly from Rp1.09 trillion to Rp1.328 trillion, Semen Gresik managed to book operating income of Rp1.56 trillion, jumped 62% from Rp965 billion in 2004.
The state-owned company's interest expenses also reduced significantly from Rp238 billion to Rp157 billion.
Cemex SA is about to sell its 25% shares in Semen Gresik. Rajawali Group owner Peter Sondakh was reportedly the strongest candidate to acquire Cemex shares in Semen Gresik.
According to its financial report published today, Semen Gresik recorded total sales of Rp7.53 trillion last year, a 24% growth from Rp6.067 trillion in 2004.
Even though its operating expenses increased significantly from Rp1.09 trillion to Rp1.328 trillion, Semen Gresik managed to book operating income of Rp1.56 trillion, jumped 62% from Rp965 billion in 2004.
The state-owned company's interest expenses also reduced significantly from Rp238 billion to Rp157 billion.
Cemex SA is about to sell its 25% shares in Semen Gresik. Rajawali Group owner Peter Sondakh was reportedly the strongest candidate to acquire Cemex shares in Semen Gresik.
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posted by yosef at 8:26 AM
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