JAKARTA - PT Clipan Finance Indonesia Tbk (CFIN) posted a net profit for the current year of Rp 361.59 billion during 2019, increased 18.50% compared to the same period in 2018, net profit was recorded at Rp 305.13 billion. The increase in earnings performance is in line with revenue growth, mainly from consumer financing.
As quoted from the Financial Statements as of December 31, 2019, on Thursday (27/2), Clipan Finance earned revenues of Rp 2.16 trillion, up compared to the 2018 period of Rp 1.93 trillion. This increase was due to revenue growth from consumer financing, which was recorded at Rp 1.59 trillion, up from Rp 1.19 trillion, followed by other revenues of Rp 365.67 billion, up from Rp 326.75 billion.
Meanwhile, other revenue segments did not show growth in 2019 compared to 2018. Finance rental income was Rp 170.05 billion, down from Rp 326.34 billion, factoring as much as Rp 25.43 billion, down from Rp 70 billion, operating leases (property investment) worth Rp 600 million, stable compared to 2018 Rp 600 million, vehicle operating leases Rp 6.12 billion, down from Rp 6.88 billion, interest income as much as Rp 1.82 billion, down from Rp 4.06 billion, and there are no gains from foreign exchange rates, including profits from the sale of fixed assets.
In 2019, profit growth was not significant due to the high amount of expenses, namely Rp 1.67 trillion, up from Rp 1.52 trillion, while the total profit before tax was Rp 486.66 billion, increased from Rp 412.30 billion. (LK)