Jan 25, 2011

Semen Gresik eyes Rp4 trio net profit

Indonesia's largest cement maker PT Semen Gresik Tbk (SMGR) targets net income of Rp4 trillion in 2011 or increase within a range of 10%-15%, compared to the same period which may range between Rp3.46 trillion and Rp3.63 trillion.
President Director of Semen Gresik Dwi Sutjipto said although the company’s revenue were relatively stagnant in 2010, the company has conducted an efficiency program thus the net profits increased between 5% and 10% compared with Rp3.3 trillion in 2009.
He believes the increase on profit target in this year is mainly supported by the increase in production and the completion of two new plants at the end of this year in Tuban and Tonasa with a total production capacity of 5 million tons.

Disclosure: No position at the stock mentioned above. 

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