JAKARTA - PT Century Textile Industry Tbk (CNTX) posted a US$1.51 million loss in 2019, having recorded a US$106,829 profit in 2018.
According to the company's financial report as of December 31, 2019, CNTX recorded US$28.81 million in revenue, down from US$29.82 million in 2018. Its gross profit amounted to US$2.82 million, down from US$3.72 million in 2018. The gross profit decline was caused by increasing principal expenses, especially production costs.
CNTX's revenue was dominated by domestic sales, in addition to its export sales in markets such as Bangladesh, Saudi Arabia, the United Arab Emirates, the Netherlands, and other countries.
In 2019, CNTX posted US$1.53 million in selling expenses, up from US$1.41 million, with a currency loss of US$51,794, having recorded a currency profit of US$90,590 in 2018. Other expenses were recorded at US$563,548, up from US$40,567 in 2018. (LK/MS)