JAKARTA - PT Wicaksana Overseas International Tbk (WICO's) financial performance in the third quarter of 2018 fell by 878.82%. In the period, the company suffered Rp 12.31 billion loss. In the same period of 2017, the company gained a profit of Rp 1.58 billion. The poor performance was mainly due to decreasing revenue and inefficiency of the company.
Based on the company's financial report, the company's revenue decreased by 5.42% year on year. Decreasing revenue happened in all segment in the third quarter of 2018, which consisted of food and beverages, which contributed Rp 679.97 billion, body care and cosmetics (Rp 11.89 billion), plastic material (Rp 3.72 billion), pharmacies (Rp 763.41 million), and others (Rp 3.14 billion).
For information, in the third quarter of 2017, the contribution of those segments was as follows: food and beverages (Rp 710.97 billion), body care and plastics (Rp 12.75 billion), plastic material (Rp 5.75 billion), pharmacies (Rp 3.18 billion), and others (Rp 6.93 billion)
The company recorded a gross profit of Rp 51.24 billion, lower than the gross profit gained during the same period of 2017 (Rp 59.28 billion), the operating loss of Rp 17.75 billion, higher than Rp 5.47 billion suffered last year. Finally, the company recorded a loss before tax of Rp 12.54 billion, compared Rp 2.92 billion in profit before tax gained last year. (LK/AR)