Indonesia's third largest cement maker PT Holcim Indonesia Tbk (SMCB) booked a steep jump in net profit in the first three months this year on the back of foreign exchange gain.
Holcim posted Rp204.92 billion in net profit as of March this year, a 364.45% jump from the same period last year of net loss Rp77.49 billion.
The company gained foreign exchange of Rp39.49 billion in Q1 2010 from foreign exchange loss of Rp235.72 billion in Q1 2009. Holcim also booked lower interest expense from Rp125.32 billion in Q1 2009 to Rp67.11 billion in Q1 2010.
Operating profit rose 18.86% from Rp262.67 billion in March 2009 to Rp312.22 billion in March this year. Sales booked a slight increase by 5.51% from Rp1.27 trillion in Q1 2009 to Rp1.34 trillion in Q1 2010. Holcim's operating margin increased from 20.75% in Q1 2009 to 22.80% in Q1 2010.
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