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Semen Baturaja to continue development of new factory despite declining sales

04 March 2019 02:43 PM  Company: PT. Semen Baturaja (Persero) Tbk [SMBR]
Rp. 995  0 (0%)

JAKARTA. PT Semen Baturaja Tbk (SMBR) will continue the development of a new factory in Jambi despite the decline in national cement demand.

SMBR CEO Jobi Triannanda Hasjim said the development of the new factory is the company's strategic project this year. The project has also obtained the support of the Jambi provincial government. "The development of SMBR's Sarolangun factory will have a wide impact on the local economy," said Mr Hasjim as quoted by Kontan.co.id, Monday (4/3).

The Indonesian Cement Association (ASI) said that national cement demand in January this year dropped 1.3% year on year (yoy). SMBR's sales in January 2019 also dropped 1% yoy.

Nevertheless, SMBR managed to book Rp 150.2 billion ini revenue in January, growing 6% year on year from Rp 141.8 billion. (KR/MS)

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