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Golden Energy recorded US$ 65.41 million in profit in 2019

04 March 2020 11:42

JAKARTA - PT Golden Energy Mines Tbk (GEMS) generated US$ 65.41 million in net profit in 2019, lower than the figure recorded in 2018 of US$ 98.77 million.

According to the company's financial statements published on Wednesday (4/3), the company actually recorded more sales than in 2018 (US$1.05 billion to US$ 1.11 billion). However, the company's cost of goods sold and selling expenses also rose to US$ 746.01 million and US$ 184.05 million, which caused the company's pre-tax profit to fell to US$ 100.34 million. 

Golden Energy Mines' total asset value also rose to US$ 780.64 million, and its liability also rose to US$ 422.37 million. (ARM/AR) 

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