Monday, March 24, 2008
PT Semen Gresik 2007 Earnings Up 37% on Stronger Sales
Source: Antara

Jakarta PT Semen Gresik, Indonesia's largest cement maker by sales volume, said on Monday that its 2007 net profit rose 37 percent from the previous year aided by stronger sales.

mpany booked a net profit of 1.78 trillion rupiah in 2007 against 1.3 trillion rupiah in 2006, Semen Gresik president Dwi Sutjipto was quoted by Thomson Financial as telling a press briefing.

Sales grew 10 percent to 9.6 trillion rupiah in 2007 from 8.73 trillion rupiah the previous year, he said.

Operating profit rose 34 percent to 2.4 trillion rupiah from 1.78 trillion rupiah in 2006 as a result of cost efficiencies, he said.

In 2007, Semen Gresik sold a total of 16.94 million tons of cement, an increase of 1.1 percent from 2006.

Domestic sales, which offer higher margins, accounted for about 90 percent of the sales volume.