JAKARTA - PT Kedaung Indah Can Tbk (KICI) posted a net loss of Rp 2.47 billion at the end of the third quarter this year. This amount has increased dramatically compared to the loss that the company suffered in the same period last year of Rp 229 million.
For information, net sales of KICI were recorded at Rp 70.19 billion in Q3 2019, an increase of 10.71% compared to Q3 2018 of Rp 63.40 billion. Domestic sales in 2019 increased by around 25% to Rp 61.18 billion. While export sales declined from Rp 14.56 billion in Q3 2018 to Rp 9.02 billion at the end of September 2019.
However, the company's cost of goods sold also increased by almost 20% to Rp 58.79 billion. As a result, the company's gross profit was recorded at Rp 11.39 billion.
Sales, general and administrative expenses only experienced a slight change from last year. Thus, the company's net loss at the end of the third quarter of this year reached Rp 2.47 billion. (LM)