Indocement's profits up

JAKARTA (JP): PT Indocement Tunggal Prakarsa Group announced yesterday a 20.9 percent increase in its net income to Rp 389.5 billion (US$165 million) in the first nine months of this year.

The group's net revenue rose 10.7 percent during same period to Rp 3.1 trillion, a company statement said.

The gross profit margin for the entire Prakarsa group increased from 36.6 percent to 37.3 percent, while the operating profit margin remained at 26 percent.

The group's cement division recorded Rp 1.08 trillion in net revenues from the period of January to September, up 3.5 percent from Rp 1.04 trillion.

The cement division's contributions on group's net revenue and income, however, were down to 34.1 percent and 54.1 percent respectively from 36.5 percent and 58.8 percent last year.

Another major division, the food division, recorded a 15 percent increase in net revenues, to reach Rp 2,096.6 billion. (04)