Indonesia's largest cement maker PT Semen Gresik Tbk (SMGR) posted a slight drop in revenue last year of 0.35%, while net income slightly increased 9.01%.
In an official publication of 2010's financial statement today, Semen Gresik posted IDR14.34 trillion revenue in 2010 from IDR14.39 trillion in the previous year. Cost of goods revenue abated 1.05% to IDR7.53 trillion from IDR7.61 trillion.
As a result, the company was able to post a slight increase in gross profit of 0.59% to IDR6.81 trillion from IDR6.77 trillion.
Semen Gresik, majority owned by Indonesian government, draged down its operating expenses of 4.53% to IDR2.32 trillion from IDR2.43 trillion, enabling the company to boost operating profit to IDR4.49 trillion from IDR4.34 trillion.
In return, operating margin augmented to 31.31% from 23.14%. At the bottom line, it posted a 9.01% increase to IDR3.63 trillion from IDR3.33 trillion.
Disclosure: No position at the stock mentioned above.
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