PT Semen Indonesia (Persero) Tbk posted a profit for the year attributable to owners of the parent company of around Rp450.363 billion, an increase of only 0.87% in the first quarter of this year from the previous year for the same period of Rp446.459 billion.

Based on the financial reports published on Tuesday (4/5), the slowdown in profit growth was triggered by low revenue achievements of around 5.87%, from Rp8.580 trillion to Rp8.076 trillion.

This decrease in income was offset by a lower revenue cost of 1.78% to Rp5.770 trillion from Rp5.875 trillion.

The company also succeeded in reducing the rate of selling expenses and financial expenses during the first three months of this year by around 18.29% to Rp601.014 billion from Rp735.558 billion and 27.07% to Rp443.638 billion from Rp608.389 billion, respectively.

In the section on the results of associates and joint ventures, the company succeeded in reducing its expense rate more than