SMGR profit up

PT Semen Gresik Tbk (SMGR) consolidated net profit of Rp 3.955 trillion last year. That number edged up about 8% over the previous year achieving a profit of Rp 3.659 trillion.
Thus, earnings per share or earnings per share (EPS) SMGR also increased from Rp 613 per share in 2010 to Rp 662 per share at the end of last year.
SMGR financial statements (audited) which was released Thursday (29/3) showed a slight increase occurred because the profits corporate earnings did not rise significantly. Throughout 2011, the largest cement producer in Indonesia is Rp 16.379 trillion in net sales, or only up 14% over the previous year are valued at Rp 14.344 trillion.
Meanwhile, the cost of goods increased by 18%. Thus, gross profit was recorded up about 10% to Rp 7.487 trillion at the end of last year.
Selling expenses and operating expenses also increased respectively 12% and 150% in the last year. However, SMGR received significant additional income from other operating income accounts is around Rp 69.978 billion. As a result, the Company was still able to print a profit increase, although fairly thin about 8% by the end of last year.
On the other hand, total liabilities amounting to 47.42% SMGR swell to Rp 1.623 trillion in the year. This increase was primarily due to increases in bank lending accounts which reached 73.5%. Because the company drew down a new bank loan to finance the construction of cement plants and new power plants in the subsidiary.
Meanwhile, total assets also increased by 26.33% to Rp 4.098 trillion. This increase was primarily due to increases in fixed asset account for 97.07%. This is related to the progress of the construction of two cement factories and a new power plant.