Indocement net income falls

Indocement net income falls

JAKARTA: PT Indocement Tunggal Prakarsa, Indonesia's second- biggest cement maker by sales, said its net income fell 74 percent in the nine months ended Sept. 30 because of currency losses.

The Jakarta-based company's net income fell to Rp 183 billion (US$20 million), from Rp 712.2 billion a year earlier. Sales rose to Rp 3.4 trillion from Rp 3.17 trillion, the company said in a statement.

It didn't provide per-share data.

Indocement, controlled by HeidelbergCement AG, Germany's largest cement maker, had a foreign currency loss of Rp 264.5 billion, compared to a foreign currency gain of Rp 189.7 billion a year earlier. -- Bloomberg