Garuda Food generated Rp 425.48 billion in net profit in 2018

09 April 2019 14:26

JAKARTA - PT Garuda Food Tbk (GOOD), a food and beverage company, recorded a net profit of Rp 425.48 billion in 2018, 19% higher than its net profit in 2017 (Rp 357.51 billion). Its sales revenue was recorded at Rp 8.04 trillion, 7, 60% higher than Rp. 7.48 trillion recorded in 2017.

As quoted from the financial statements, Hardianto Atmadja, President Director of PT Garuda Food Tbk (GOOD) said that the growth in the sales revenue was in line with the growth in the sales volume, especially on biscuits. "In aggregate, total food sales in 2018 increased by 8.37% to Rp 6.85 trillion from Rp 6.32 trillion in 2017," he said.

Beverages' sales volume increased by 3.39% to Rp 1.19 trillion in 2018 from Rp 1.15 trillion in 2017. Garuda Food's exports in 2018 increased by 30.13% to Rp 486.62 billion from Rp 373.94 billion in 2017.

The company conducted its IPO on 10 October 2018 and gained Rp 972.33 billion which was used as capital. At the IPO, Garuda Food's shares were offered at Rp 1,284 per share. On 9 April 2019, the price is at Rp 1,770 per share. (LK/AR)

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