JAKARTA. Increasing expenses have eroded PT Multi Bintang Indonesia Tbk's (MLBI) profit by 1.55%, despite the fact that the company managed to record 3.92% sales growth in 2019.
MLBI recorded net sales of Rp 3.71 trillion in 2019, slightly higher than the figure recorded by the company in 2018 of Rp 3.57 trillion.
Richard Kurniadi, Corporate Secretary & Head of Legal at PT Multi Bintang Indonesia Tbk, said that the company managed to record net sales growth due to innovations made by the company, particularly in the non-alcoholic beverage category.
On the other hand, profit attributable to the parent fell by 1.55% from Rp 1.224 trillion to Rp 1.205 trillion in 2019.
"Last year, expenditures were higher, due to costs related to hiring employees for a number of vacancies, higher depreciation costs, as well as new non-recurring costs," said Richard. (AM/AR)