Indonesia's second largest cement maker PT Indocement Tunggal Prakarsa Tbk (INTP) recorded a decrease in both gross and operating margin last year, while net profit rose 11.49%.
In the financial statement filed to Indonesia Stock Exchange last week, the drop was mainly driven by higher cost of goods sold and operating expenses.
However, Indocement booked a 15.70% and 8.87% increase in gross profit and operating profit. The company posted Rp6.41 trillion gross profit and Rp4.42 trillion operating profit last year from Rp5.54 trillion and Rp4.06 trillion in 2010.
Gross margin fell to 46.15% from 49.73%, while operating margin dropped to 31.82% from 36.45%.
Net profit reached Rp3.59 trillion or Rp977.10 a share from Rp876.05 a share.
Disclosure: No position at the stock mentioned above.
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