JAKARTA (Yosefardi) – State cement producer PT Semen Baturaja Tbk (SMBR) reported unaudited net profit of Rp310 billion in 2013, increased 3.6% from Rp299 billion in 2012.
The national cement demand only grew by 5.6% last year, compared to 14.5% growth in 2012. The company expects to book net profit of Rp350 billion this year.
SMBR allocates capital expenditure (capex) of Rp725 billion for this year, to fund the construction of new cement mill in Ogan Komering Ulu, South Sumatra.
It will also seek bank loan of Rp650 billion for funding new cement mill construction. Cement demand in South Sumatra region is expected to reach 5.1 million tons last year.