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MD Pictures profit in first quarter declines 76%

08 May 2019 06:28

JAKARTA - PT MD Pictures Tbk (FILM) recorded a net profit that dropped by 76% to Rp 15.6 billion in the first quarter of 2019 compared to the same period last year which as much as Rp 65.1 billion.

Manoj Punjabi, MD Pictures Managing Director stated that in the film business, the decline was common. Because, the production and launch of films can change at any time.

According to Manoj, business in films is different from for example, manufacturing businesses. In this business, film production cannot be done every day. Also with the launch. But once the film is finished being produced and then launched, the income from one film can close the income gap in the previous months.

"In this business it's very different. One month can cover 7 months of income. This up and down has been taken into account," he said.

For him so far the company's performance is still very stable. The company is also confident that in the last 6 months in 2019 it can record a better performance than last year. In addition, it still has two flagship films that will soon air this year. (AM/LM)

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