SG 8-month sales up 5% on year

SG 8-month sales up 5% on year

JAKARTA: PT Semen Gresik (SG) on Tuesday said its cement sales in the first eight months of this year rose 5 percent on year to 10.66 million metric tons, driven by an increase in domestic sales.

Indonesia's largest cement maker said its domestic cement sales rose 8.3 percent to 9.40 million tons. Its exports, however, fell 15 percent to 1.26 million tons.

Gresik did not provide an explanation for its sales performance.

According to data from Indonesia's cement producers' association, domestic cement sales in the January-to-August period rose 8.3 percent to 20.97 million tons from 19.36 million tons a year earlier.

The Indonesian government owns 51 percent of Semen Gresik. Mexico's Cemex SA de CV holds a 25.53 percent stake. -- Dow Jones