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Victoria Investama's net profit fell by 58.69%

17 June 2019 11:59

JAKARTA. PT Victoria Investama Tbk (VICO) recorded a significant decline (58.69%) in its net profit in 2018 to Rp 39.17 billion.

Based on the company's annual report, VICO was able to obtain a net profit of Rp 94.82 billion in 2017. The cause of the decline was not very clear. Aldo Tjahaja, President Director of VICO, was reluctant to be interviewed after the Annual General Meeting of Shareholders (AGMS) on Monday (17/6) today.

However, in April, VICO said that its revenue performance was stagnant from 2017 to 2018. In both years, the company managed to generate Rp 1.01 trillion in revenue. On the other hand, the company's operating expenses increased by 42.39%, from RP 465.28 billion recorded in 2017 to Rp 662.53 billion.

The company's financial performance in 2018 also made VICO's Earning Per Share (EPS) deteriorate to the level of Rp. 4.28, while in the previous year it was still at the level of Rp 10.36. (KR/AR)

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