Indocement's profit up

Indocement's profit up

JAKARTA (JP): Publicly-listed PT Indocement Tunggal Prakarsa yesterday announced its unaudited net income of Rp 322.1 billion (US$140.3 million) for the January-September period, indicating a 26.3 percent increase over the same period of last year.

The company said in a statement yesterday that it raked in Rp 2.9 trillion in net consolidated revenues during the first nine months of the year, a 17.6 percent increase over the previous year.

Indocement, which sold its flour mill Bogasari to its sister company Indofood Sukses Makmur earlier this year, said that its food division contributed 63.2 percent of the revenues and 41.3 percent of its operating income.

Both the firm's cement and food divisions have planned major expansions for the coming few years.

The cement division plans to construct three new cement production units by the end of 1998 which will add its total annual capacity by 6.1 million tons to the current level of 9.6 million tons.

The food division expects to increase the capacity of its noodle plants next year to 9.4 billion packs per annum from the current level of 8.5 billion packs. Bogasari plans to double its flour milling capacity to 4.8 tons per annum. (rid)