JAKARTA. The owner of Gatsby and Pixy brand, PT Mandom Indonesia Tbk (TCID) announced that it would distribute dividends of Rp. 84.45 billion (Rp. 420/share) to shareholders.
This value is less than 50% of the total net profit recorded by the company last year.
In 2018, TCID posted a net profit of Rp 173 billion, down by 3.93% on an annual basis (YoY) compared to 2017.
Mandom's profit grew negatively because the revenue in 2018 fell 2.13% YoY to Rp 2.65 trillion from Rp 2.71 trillion.
The cause of the decline in corporate income was a considerable contraction in domestic sales even though export sales managed to grow positively.
In a press release on Thursday (18/04/2019), the company said that 2018 is quite challenging for the consumer goods industry, due to changes in consumer consumption patterns.
However, Mandom Indonesia believes that the domestic market this year still has great potential, especially in the cosmetics category. For this reason, several new products will be launched that are expected to be well received by consumers. (AM/AR)