Indocement`s profit up 11.69 pct to rp3.60 tln

26 March, 2012 | Source: ANTARA News

Jakarta (ANTARA News) - Publicly-listed cement maker PT Indocement Tunggal Prakarsa Tbk said its 2011 net profit, fueled by rising sales, rose by 11.69 percent to Rp3.60 trillion from Rp3.22 trillion one year earlier.

The company`s cement sales grew by 15.2 percent to 16 million tons in 2011 from 13.9 million tons in 2010, with domestic sales increasing by 19.9 percent or higher than the average national growth of 17.7 percent, the company`s corporate secretary, Sahat Panggabean, said here on Monday.

The sale hike resulted in the company holding a 31.9 percent share of the domestic cement market last year, compared to 30.9 percent in 2010, he said.

However, exports in 2011 fell by 41.5 percent to 600 thousand tons in 2010 as the company focused on fulfilling domestic needs, he noted.

"The sale performance caused income to increase by 24.69 percent to Rp13.887 trillion in 2011 from Rp11.13 trillion in 2010," he said.

He added that the company also recorded a profit of Rp305.727 billion from financial income last year, a 55.41 percent increase compared to Rp196.714 billion one year earlier.

Meanwhile, operating expenses rose by 32.87 percent to Rp7.47 trillion in 2011 from Rp5.59 trillion in 2010, he said.

As of December 31, 2011, Indocement`s total assets reached Rp18.15 trillion, up by 18.27 percent from Rp15.34 trillion in 2010.

Indonesia`s cement consumption last year grew by 17.7 percent to 48 million tons compared to 40.8 million tons in 2010.


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