JAKARTA - Two Indonesian houseware companies recorded growth in sales in the first half (1H) of 2019. However, those companies recorded losses due to higher expenses.
As quoted from the company's financial statements in 1H 2019, PT Langgeng Makmur Industri Tbk (LMPI) recorded sales of Rp 216.63 billion, much higher than the record in 1H 2018 of Rp 20.34 billion. However, the company recorded a loss of Rp 18.44 billion due to high expenses, mainly production costs.
PT Kedaung Indah Can Tbk (KICI) recorded Rp 48.31 billion in 1H 2019, higher than its record in 1H 2018 of Rp 38.81 billion. However, its gross profit fell from Rp 8.48 billion in 1H 2018 to Rp 7.83 billion due to an increase in the cost of goods sold. As a result, the company recorded a loss of Rp 1.86 billion. (LK/AR)