JAKARTA. PT Tunas Baru Lampung Tbk (TBLA)'s during the period of January - September 2019 (9M) fell by 7% YoY to Rp 503 billion, due to a decline in palm oil commodity prices.
Hardy, Corporate Secretary of TBLA, explained that in the same period last year, the company was able to record a net profit of Rp 541 billion.
The decline was mainly caused by the company's sales revenue which fell by 7% YoY from US$ 99 million to US$ 92 million.
79% of the company's sales revenue in 9M 2019 was contributed by the domestic market (Rp 5.03 trillion), while the rest of it (Rp 1.31 trillion) was obtained from export.
Nonetheless, Sudarmo Tasmin, President Director of TBLA, is optimistic that his party can obtain additional revenue of around Rp2.11 trillion or more in the fourth quarter of this year, which will increase the company's total revenue to Rp 8.4 trillion. "It may reach Rp 9 trillion," Tasmin said when met by idnfinancials.com on Thursday (12/12) today. (KR/AR)