JAKARTA - PT Tunas Baru Lampung Tbk (TBLA) posted a net profit drop of 12.54% year on year (yoy) to Rp 662.8 billion in 2019 from Rp 757.74 billion in the previous year.
According to the company's financial report published on Tuesday (21/4), the net profit decline occurred due to the company's revenue which fell 0.95% from Rp 8.61 trillion to Rp 8.53 trillion in 2019. Additionally, its cost of goods sold hiked 2.00% from Rp 6.31 trillion in 2018 to Rp 6.44 trillion in 2019, resulting in a 9.06% drop in gross profit from Rp 2.30 trillion in 2018 to Rp 2.09 trillion in 2019.
In addition, TBLA's equity surged 12.11% to Rp 5.36 trillion in 2019 from Rp 4.78 trillion in 2018. Its liabilities rose 3.84% from Rp 11.56 trillion in 2018 to Rp 12.00 trillion, while its asset value rose 6.26% from Rp 16.33 trillion to Rp 17.36 trillion in 2019. (ARM/MS)