PT Indocement Tunggal Prakarsa Tbk (INTP) Sees Increase in Cement Sales in January 2024
PT Indocement Tunggal Prakarsa Tbk (INTP) reported a robust operational performance in January 2024, with an increase in cement sales compared to the same period last year.
Indocement's Corporate Secretary, Dani Handajani, highlighted the company's market share achievements, driven by significant sales growth in Java and modest increases elsewhere. The cement manufacturer, known for its Tiga Roda brand, anticipates a 2% to 3% growth in national cement consumption in 2024. This optimism is based on several factors, including the development projects for the new capital city, Nusantara, and its supporting facilities.
The increase in cement sales is also supported by the government's higher infrastructure budget for 2024, a return to pre-pandemic economic growth levels in Indonesia, and controlled inflation rates expected to lower interest rates.
However, Dani noted several factors of concern for INTP in 2024, including external challenges such as escalating conflicts between Israel and Palestine and the ongoing conflict between Russia and Ukraine.
Source: Kontan
