JAKARTA - The profit of animal and fish feed producers in the first half (1H) of 2019 was lower than their profit in the same period of last year, mainly due to higher expenses. This can be seen from the financial statements of three of such companies listed on the capital market.
According to its financial statements, in 1H 2019, PT Charoen Pokhphand Indonesia Tbk (CPIN) generated Rp 1.72 trillion in profit, lower than the figure recorded in 1H 2018 of Rp 2.45 trillion. This was mainly caused by higher cost of goods sold, especially for raw materials. This occurred despite the fact that the company recorded a 15.46% increase in sales revenue, from Rp 25.61 trillion to Rp 29.57 trillion.
PT Japfa Comfeed Indonesia Tbk (JPFA) generated Rp 812.97 billion in profit in 1H 2019, lower than the figure recorded in 1H 2018 of Rp 1.17 trillion. Despite an increase in sales revenue (from Rp 16.70 trillion to Rp 18.24 trillion), the company's profit declined due to higher sales and marketing expenses.
PT Malindo Feedmill Tbk (MAIN) generated Rp 145.91 billion in profit in 1H 2019, lower than the figure recorded in 1H 2018 of Rp 155.26 billion. The company's profit declined due to rising raw material expenses, although the company's sales revenue rose from Rp 3.07 trillion to Rp. 3.87 trillion. (LK/AR)