JAKARTA. PT Kimia Farma (Persero) Tbk's profit fell by 68.57% in the first semester (1H) of 2019, despite the fact that its net sales grew by 18.78%. This was mainly caused by higher expenses.
Based on the company's financial statements, as of 30 June 2019, the pharmaceutical company recorded sales of Rp 4.52 trillion, 18.78% more than its record in 1H 2018 of Rp 3.81 trillion.
However, the company's cost of goods sold increased by 21.61% (from Rp 2.36 trillion to Rp 2.86 trillion). In fact, operating expenses increased by 22.92%, from Rp 1.18 trillion to Rp 1.45 trillion. Total expenses increased by 153.48% from Rp 88.62 billion to Rp 224.63 billion as of 30 June 2019.
As a result, profits attributable to owners of the parent entity reached Rp.47.75 billion in 1H 2019, 68.57% lower than the record in 1H 2018 of Rp 151.92 billion. (AM/AR)