Indocement Q4 net profit falls 4 pct on higher costs

PT Indocement Tunggal Perkasa (INTP), Indonesia's biggest cement maker by market value, on Thursday said its fourth-quarter 2010 net profit fell 4 percent as costs climbed.

The firm's fourth quarter net profit was 841 billion rupiah ($95.8 million) in 2010, compared with 878 billion rupiah in the same period a year earlier, Reuters calcuations showed based on published full-year and nine-months results.

Indocement, controlled by cement giant HeidelbergCement AG , reported a full year 2010 net profit of 3.224 trillion rupiah, up 17 percent from 2.747 trillion rupiah a year earlier.

Analysts forecast full-year 2010 net profit up 21 percent to 3.33 trillion rupiah, according to Thomson Reuters Starmine.
Indocement's 2010 full-year net revenue rose 5.3 percent to 11.14 trillion rupiah.

The firm is expanding its current cement production capacity of 18.6 million tonnes a year with another two million tonnes by 2012, building a new plant this year.

Indocement shares were 2.7 percent to 14,300 rupiah on Thursday before the result, and have slipped 10 percent this year to underperform the Jakarta index . ($1 = 8775 Rupiah). Source: Reuters