Weaker Earnings of Cement Producers

Indocement Tunggal Prakarsa (INTP) reported a 50% drop in net profit in the first half (H1) of 2022, due to higher costs. The Company booked net revenues of Rp6.91 trillion in said period, up 4.5% year on year (y/y), but cost of goods sold rose 13.3% y/y to Rp5.1 trillion following increase in sales volume and higher energy cost (coal). Gross profit, accordingly, fell 19% y/y to Rp1.77 trillion.To subscribe please click here