{
    "success": true,
    "data": {
        "id": 1358917,
        "msgid": "profit-of-cement-producers-drops-1447899208",
        "date": "2003-08-01 00:00:00",
        "title": "Profit of cement producers drops ",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Profit of cement producers drops The Jakarta Post Jakarta The country's second-largest cement producer, PT Indocement Tunggal Prakarsa, and the third-largest, PT Semen Cibinong, recorded a decline in their first-semester net profit on unexpectedly low demand for cement in the home market.",
        "content": "<p>Profit of cement producers drops<\/p>\n<p>The Jakarta Post<br>\nJakarta<\/p>\n<p>The country's second-largest cement producer, PT Indocement<br>\nTunggal Prakarsa, and the third-largest, PT Semen Cibinong,<br>\nrecorded a decline in their first-semester net profit on<br>\nunexpectedly low demand for cement in the home market.<\/p>\n<p>Cement sector analyst Deni Lesmana from PT Samuel Sekuritas<br>\nsaid on Thursday that domestic demand for cement in the first<br>\nsemester was way below prediction as it had grown by only 0.4<br>\npercent to 12.6 million tons, compared with an earlier growth<br>\nestimate of 5 percent to 10 percent.<\/p>\n<p>\"The cement sector is still suffering from low demand and also<br>\nfrom the high cost of sales,\" said Deni, adding that the jump in<br>\nsales of the two companies was mostly caused by an increase in<br>\ncement prices rather than an increase in volume.<\/p>\n<p>He explained that the weak growth was mainly attributable to<br>\nslow progress in government projects and the property sector.<\/p>\n<p>Deni also added that the two companies were hurt by lower<br>\nforeign exchange gains and, as with most other manufacturing<br>\ncompanies, operational expenses had increased after the<br>\ngovernment raised electricity and fuel prices.<\/p>\n<p>Indocement said that foreign exchange gains in the first half<br>\ndeclined to Rp 461 billion (US$56.22 million) from Rp 1.04<br>\ntrillion in the same period last year, while Semen Cibinong<br>\nearned Rp 317 billion from Rp 880 billion.<\/p>\n<p>Indocement said that its first-half net profit declined by 26<br>\npercent to Rp 650 billion from Rp 878 billion, although sales<br>\nrose to Rp 1.96 trillion from Rp 1.82 trillion.<\/p>\n<p>However, Deni said that the company's revenue cost of sales<br>\njumped to Rp 1.29 trillion from Rp 1.28 trillion and also the<br>\nincrease in its operating costs to Rp 272 billion from Rp 163<br>\nbillion.<\/p>\n<p>Meanwhile, Semen Cibinong's net profit plunged by 60 percent<br>\nto Rp 312 billion from Rp 787 billion.<\/p>\n<p>Semen Cibinong's sales increased to Rp 1.1 trillion from Rp<br>\n921 billion, but cost of sales rose to Rp 998 billion from Rp 929<br>\nbillion, and operating expenses jumped to Rp 121 billion from Rp<br>\n72 billion.<\/p>\n<p>Indocement and Semen Cibinong both control almost half of the<br>\ncement sales in Indonesia, while the remainder is controlled by<br>\nstate-owned PT Semen Gresik.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/profit-of-cement-producers-drops-1447899208",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}