Indocement reports profit<\/p>\n
JAKARTA : Indonesia's second largest cement producer, PT
\nIndocement Tunggal Prakarsa, swung to net profit in the first
\nhalf of the year from a net loss a year earlier thanks to
\nunrealized foreign exchange gains.<\/p>\n
Indocement said it booked a net profit of Rp 878.87 billion in
\nthe six months ended June 30, compared with a net loss of Rp
\n869.21 billion.<\/p>\n
It booked foreign exchange gains of Rp 1.05 trillion, swinging
\nfrom losses of Rp 1.38 trillion a year earlier due to the
\nrupiah's appreciation against the dollar.<\/p>\n
Indocement, like many Indonesian companies, is exposed to
\ncurrency fluctuations due to its dollar-denominated debt.<\/p>\n
The company's net revenue rose 15 percent to Rp 1.82 trillion
\nfrom Rp 1.58 trillion a year earlier, but gross profit fell to Rp
\n538.65 billion from Rp 566.59 billion as production costs rose 27
\npercent to Rp 1.28 trillion from Rp 1.01 trillion.<\/p>\n
German's Heidelberger Zement AG owns 61.7 percent of
\nIndocement; the Indonesian government holds a 16.87 percent
\nstake; the company's founder, the Salim Group, owns 13.47
\npercent; Japan's Marubeni Corp. has 1.9 percent; and the public
\nholds 6.06 percent. --Dow Jones<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indocement-reports-profit-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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