State cement producer Semen Indonesia (SMGR) booked a net profit of Rp2.79 trillion in 2020, grew 16.7% from Rp2.39 trillion in 2019, thanks to lower financial costs. Its revenue declined 12.9% to Rp35.17 trillion, and gross profit fell 8.6% to Rp11.6 trillion. SMGR’s finance costs fell 28% to Rp2.32 trillion from the previous Rp3.2 trillion, helping the bottom line’s growth.
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