JAKARTA - PT Semen Indonesia Tbk (SMGR) posted revenue of Rp 8.58 trillion in the first quarter of this year. This figure increased by 5.57% compared to the same period last year of Rp 8.13 trillion.
According to the data from the Indonesian Cement Association (ASI), national cement consumption in the first quarter of 2020 was recorded at 14.90 million tons or decreased 4.91% compared to the same period last year.
SMGR President Director, Hendi Prio Santoso said that the increase in the Company's performance in 1Q20 was the result of various synergy and efficiency measures that have continued to be carried out since 2018. "SIG will continue to maintain profitability performance through a variety of cost transformation initiatives, as well as development of value-added building materials business."
In the first quarter, SMGR’s cost of revenue was recorded at Rp 5.88 trillion, down by 0.64% compared to the previous year of Rp 5.91 trillion. Thus, the company's net profit in this period reached Rp 446 billion, up 66.52% compared to the previous year of Rp 268 billion. (LM)