Jul 9, 2010

Semen Gresik 1H profit rises 10%-20%

Indonesia's largest cement player PT Semen Gresik Tbk (SMGR) estimates to post 10%-20% higher net profit in the first half (1H) this year compared to the same period last year.
In parallel, Semen Gresik is calculated to book a 5%-10% growth in revenue in the first 6 months this year from a year before due overhauling.
Semen Gresik President Director Dwi Sutjipto, as reported by Bisnis Indonesia today, said a slight increase in revenue is an impact of cement price and tight competition. "But we made cost efficiency, resulting a higher bottom line by 10%-20%."
In the first half last year, Semen Gresik posted Rp1.51 trillion of net profit. Considering 10%-20% of growth, the company is estimated to book Rp1.66 trillion-Rp1.8 trillion in the first half this year.    

Disclosure: No position at the stock mentioned at the story above.

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