Indocement's profit falls<\/p>\n
JAKARTA (JP): Publicly-listed cement maker PT Indocement saw
\nits net profit fall drastically to Rp 3.3 billion (US$300,000) in
\nthe first half of this year, from Rp 262.5 billion in the
\ncorresponding period of 1997, the company said Monday.<\/p>\n
The unaudited consolidated balance sheet also showed that the
\ncompany suffered foreign exchange losses amounting to Rp 3.2
\ntrillion in the first six months of the year, the company said in
\na press release.<\/p>\n
Net revenues dropped to Rp 710.9 billion in the first half of
\nthe year, from Rp 715 billion in the same period of last year,
\nand sales volume decreased by 19 percent to 3.6 million tons as a
\nresult of weakened domestic demand.<\/p>\n
The company said it raised its cement price to Rp 193,739 per
\nton in the first half of the year, up from Rp 155,469, in an
\nattempt to offset losses resulting from a fall in the value of
\nthe rupiah against the U.S. dollar.<\/p>\n
Indocement revealed it would export 1.35 million tons of
\ncement in the second half of the year, up from the 575,000 tons
\nexported in the first half of the year. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indocements-profit-falls-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}