JAKARTA - The company that operates Alfamidi outlets, PT Midi Utama Indonesia Tbk. (MIDI), recorded a net profit of Rp 203.06 billion in 2019, 27.59% higher than its record in 2018 of Rp 159.15 billion.
According to the company's consolidated financial statements in 2019, the company's revenue grew by 8.63% from Rp 10.70 trillion (2018) to Rp 11.62 trillion (2019). The increase in revenue was in line with cost of revenue, 8.65%, from Rp 8.02 trillion (2018) to Rp 8.72 trillion (2019), so gross profit also increased by 8,59%, from Rp 2.68 trillion (2018) to Rp 2.91 trillion (2019).
However, the company booked a steep increase in other income, 159.08%, from Rp 138.20 billion (2018) to Rp 358.03 billion (2019) that resulted in the increase of net profit. Most of the increase could be attributed to insurance claims, amounting to Rp 185.81 billion (2019).
Segment-wise, most of the company's revenue came from foods (58.18%), followed by non-foods (28.56%) and fresh foods (13.26%). From the regional side, sales in the Greater Jakarta Area remained the largest contributor to the company (55.33%), then followed by regions outside of Java (31.15%) and regions in Java outside Greater Jakarta Area (13.52%). (ARM/AC/AR)