JAKARTA - Although its net sales only rise slightly, the gross profit of PT Rimo International Lestari Tbk (RIMO) in the third quarter of 2018 grew by 113.85% compared with the same period last year. Its gross profit of Rp 171.32 billion increased from Rp 80.11 billion.
Based on the company's financial report, Rimo recorded a net sales of Rp 434.28 billion growing from Rp 192.54 billion in the same period last year. While its cost of sales at Rp 261.96 billion soared compared with the same period last year at Rp 112.43 billion. The factors made the net sales increased sourced from the hotel and food and beverages during the third quarter of 2018.
However, the largest contributor was the apartment business, which contributed Rp 412.60 billion, followed by rent (Rp 8.80 billion), hotel (Rp 7.81 billion), food and beverages (Rp 3.64 billion), and other business (Rp 410 million). In the same period last year, the contribution of the apartment business was Rp 184.47 billion, followed by rent (Rp 7.24 billion), and other business (Rp 841 million).
Furthermore, the operating profit was recorded at Rp 102.77 billion, increased from Rp 19.88 billion. However, its profit for the year decreased to Rp 110.09 billion, from its previous level of Rp 112.58 billion. This was due to the decrease in income from other business, from Rp 93.33 billion to Rp 15.07 billion and other income decreased to Rp 7.85 billion from Rp 92.69 billion. (LK/AR)