Indocement books lower losses

Indocement books lower losses

JAKARTA: PT Indocement Tunggal Perkasa said Monday that lower foreign exchange losses helped cut its 2001 net loss to Rp 63.1 billion (US$6.8 million) from a Rp 874.1 billion loss a year earlier.

The cement maker said stronger sales also helped, which climbed to Rp 3.45 trillion last year from Rp 2.44 trillion in 2000.

But "delivery and selling expenses" were also sharply higher, rising to Rp 227.90 billion from Rp 134.51 billion the previous year. This dragged Indocement's operating profit down to Rp 672.07 billion compared with Rp 705.40 billion a year earlier.

Indocement's foreign exchange losses fell to Rp 319.52 billion last year from Rp 1.44 trillion in 2000. -- Dow Jones