State cement maker Semen Indonesia (SMGR) booked a net profit of Rp2.37 trillion in 2019, declined 23% from Rp3.08 trillion in 2018 as finance cost jumped to Rp3.2 trillion from Rp959 billion only in 2018. Note that SMGR acquired 80.6% shares of cement producer Solusi Bangun Indonesia (SMCB) last year from Switzerland’s LafargeHolcim Ltd.
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