Martina Berto reported a sales decline
JAKARTA – PT Martina Berto Tbk (MBTO) recorded declining sales throughout 2020 compared to its achievements in 2019. This performance resulted in the additional losses the company has to suffer this year on top of the increasing cost of goods sold.
Bryan David Emil, the President Director of MBTO, admitted that MBTO sales were recorded at IDR 297.21 billion, lower than IDR 537.56 billion reported in 2019. Meanwhile, the gross profit only reached IDR 99.67 billion, also declining from IDR 232.32 billion in 2019.
The weakened gross profit resulted from a higher cost of goods sold, which subsequently lowered the gross profit margin to 33.53% in 2020 from 43.21% in 2019. The net loss was recorded at IDR 203.21 billion, going up from IDR 66.94 billion reported in 2019.
In 2020, the cosmetic sales went down to IDR 299.94 billion from IDR 629.53 billion in 2019, as well as herbal medicine sales from IDR 3.31 billion in 2019 to IDR 2.55 billion and other goods from IDR 137.60 billion in 2019 to IDR 134.39 billion. (LK/ZH)