JAKARTA - Asian market sales of PT Kedaung Indah Can Tbk (KICI), a tin can company, have increased in the first half of 2019 compared to the same period in 2018. During that period, the company's sales were recorded at Rp 43 billion in the Asian market, dominating 89.01% of total sales of Rp 48.31 billion.
Based on the company's financial statements in the first semester of 2019, the composition of the sales market consists of Asia, America, Africa and Australia. In the American market, sales were recorded at Rp 4.37 billion, followed by the African market at Rp 917 million and Australia at Rp 13.43 million.
In the same period in 2018, Asian market sales were recorded Rp 31.52 billion or 81.22% of the total sales of Rp 38.81 billion, followed by the American market Rp 5.74 billion and the African market Rp 1.54 billion.
Even though the company's sales increased in that period, KICI's gross profit dropped from Rp 8.48 billion to Rp 7.83 billion. This was affected by the increase in costs, where the gross loss was recorded at Rp 1.73 billion, higher than the gross loss recorded at Rp 693 million. Meanwhile, losses for the period were recorded at Rp 1.38 billion, higher than the same period last year with losses for the period amounting to Rp 1 billion. (LK/MS)