Cement Producer Semen Indonesia Posts 24.6 Percent Rise in Net Profit
Semen Indonesia, Indonesia's largest cement producer, reported net profit of IDR 4.93 trillion (US $510.9 million) in 2012, a 24.6 percent increase compared to its performance in 2011. Earnings per share increased to IDR 817 from a previous IDR 662. The company benefits of significantly increased cement consumption in Southeast Asia's largest economy. Domestic cement consumption grew 14.4 percent, to 54.9 million tons in 2012.
Semen Indonesia (previously known as Semen Gresik) is clear market leader in Indonesia's cement industry, although it has lost a couple of percentage points of its market share in recent years to competitors, such as Holcim Indonesia and Indocement Tunggal Prakarsa.
The value of Semen Indonesia's stocks went unchanged on Wednesday's trading day.
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