Semen Indonesia targets higher 2015 revenue and profit

Semen Indonesia is targeting a 2015 profit of IDR5.93trn (US$456m), up from IDR5.56trn in 2014, the Kontan newspaper reported, quoting Ahyanizzaman, Semen Indonesia's finance director.

The country’s largest cement maker, according to its recently published financial result, saw its 2014 net profit up slightly by 3.53 per cent from IDR 5.37trn (US$413.43m) in 2013.

Semen Indonesia investor relations head Agung Wiharto said Tuesday that despite a 10.16 percent YoY increase in revenue to IDR26.99trn, the growth in the company’s top line could not stop increasing costs impacting net profit.

Semen Indonesia's new president director Suparni previously said the company is targeting a sales growth of seven per cent this year, following the government's decision to cut the price of cement produced by state-owned enterprises.