PT Semen Baturaja Profit Rises by 577 Percent Kompas, page 17, 2006-02-11
PT Semen Baturaja booked a net profit of Rp.23.852 billion after having performed a number of efficiency steps on 2005. The company’s net profit rose by 577 percent from Rp.4.13 billion in 2005. The profit increase was influenced increasing sales. The company’s sales rose by 15 percent from Rp.385.37 billion in 2004 to Rp.442.2 billion in 2005. Despite increasing sales, the company’s production volume dropped 2 percent from 895.232 tons due to high interest and increase in cement price. In addition, the profit increase was also influenced by the 7 percent decrease of bank burden to Rp.49.07 billion as an effect to financial restructure.
Semen Baturaja to Enter Exchange This Year Bisnis Indonesia, page B2, 2006-01-09
Since it has succeeded to book profit for three years straight, PT Semen Baturaja plan to enter the exchange in 2006. The company plans to offer 40 percent of its shares to the public to raise at least Rp.500 billion in fund. In 2003, 2004 and 2005, Semen Baturaja booked Rp.167 million, Rp.4.2 billion and Rp.12.5 billion in profit, respectively. The cement-manufacturing state-owned enterprise has planned to join the exchange since 2004.