JAKARTA. The decline in revenue of PT Perkebunan London Sumatra Indonesia Tbk. has affected the company's net profit, which fell by 23.41%.
At the end of 2019, the plantation company recorded a net profit of Rp 253.90 billion, while in 2018, the company managed to record Rp 331.53 billion. As a result, earnings per share shrank from Rp 49 to Rp 37.
The decline in profit was mainly due to a 7.96% decline in the company's revenue, from Rp 4.01 trillion to Rp 3.69 trillion in 2019. Furthermore, the company's general, administrative, and operating expenses also affected the company's performance. The total figure of the three expenses reached Rp 333.73 billion.
The price of the company's shares also fell by 1.47% to Rp 1,005 at the end of yesterday (27/2) trading. (AM/AR)