JAKARTA - PT Golden Energy Mines Tbk (GEMS) posted a net profit in 2019 as much as US$ 65.40 million. This achievement dropped 33.79% from the previous year's achievement.
Based on the company's financial statements, GEMS recorded sales of US$ 1.10 billion in 2019, up 5.79% compared to 2018 of US$ 1.04 billion.
However, GEMS cost of goods sold also rose 8.89% from US$ 685.07 million to US$ 746 million at the end of December 2019. Thus, profit attributable to shareholders was recorded at US$ 65.40 million or decreased compared to net profit in 2018 of US$ 98.77 million. (LM)