JAKARTA. PT Unggul Indah Cahaya (UNIC) has generated US$ 7 million in net profit by the third quarter (Q3) of 2019, 69% lower than the figure recorded in Q3 2018 of US$ 17.95 million.
The drop in net profit was mainly caused by the decline in UNIC's consolidated revenue, which fell by 12.12% to US$ 235.88 million.
President Director of PT Unggul Indah Cahaya Tbk, Yani Alifen, said the decline in UNIC's revenue was due to falling product and raw material prices. In addition, the price of substitute products was also increasingly competitive.
"This has resulted in a decrease in sales volume, especially in the product of our subsidiary, PT Petrocentral," Yani said during UNIC's public expose in Jakarta on Wednesday (20/11). (AM/AR)