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SMBR cement demand in February drops 14.3%

15 March 2019 11:46 AM  Company: PT. Semen Baturaja (Persero) Tbk [SMBR]
Rp. 630  -10 (-1.56%)

JAKARTA. The demand for PT Semen Baturaja Tbk (SMBR) cement in February 2019 dropped 14.3%. Declines occurred in Lampung, Jambi, Bengkulu, and Bangka Belitung.

According to SMBR CEO Jobi Triananda Hasjim, the drop was caused by the rainy season and the lack of ongoing projects at the start of the yar. SMBR's sales volume in February reached 130,769 tonnes.

On the other hand, based on an official statement received by on Friday (15/3), SMBR's market share edged up 2% in South Sumatra, which contributes 61%.

Despite the declining demand, SMBR's revenue performance as of February 2019 grew by 2% year on year (yoy) to Rp 266.54 billion. The largest portion of SMBR's revenue was driven by the retail segment, which grew by 14%.

Mr Hasjim said SMBR will continue to develop the company's market and performance this year. "Among others, we will boost the retail sector which has been projected to grow significantly as part of a domino effect with the completion of infrastructure projects," he concluded. (AM/MS)

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PT. Semen Baturaja (Persero) Tbk [SMBR]   Rp. 630   -10 (-1.56%)