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Cost of goods sold caused JPFA's net profit to fell by 18.5% YoY

02 March 2020 08:11

JAKARTA. The surge in the cost of goods sold has affected PT Japfa Comfeed Indonesia Tbk's (JPFA) net profit in 2019. The company's net profit fell by 18.5% YoY, despite the fact that the company's revenue rose by 8% YoY.

According to the company's financial statements, the company's revenue in 2019 reached Rp 34.01 trillion. However, the 10.4% surge in the cost of goods sold to Rp 29.6 trillion caused the company's net profit to fell by 18.5% from Rp 2.16 trillion recorded in 2018 to Rp 1.76 trillion.

Meanwhile, Japfa's revenue was contributed by commercial livestock and livestock product processing (Rp 14.96 trillion) and animal feed sales (Rp 13.53 trillion). (AM/AR)

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