JAKARTA - PT Garudafood Putra Putri Jaya Tbk. (GOOD) managed net 2.42% increase in net profit, rising from Rp 425.48 billion (2018) to Rp 435.77 billion (2019).
GOOD noted 4.84% increase in revenue, rising from Rp 8.05 trillion (2018) to Rp 8.44 trillion (2019). However, cost of goods sold also increased by 7.55% from Rp 5.50 trillion (2018) to Rp 5.91 trillion (2019), resulting in a slight drop in gross profit, 0.98%, from Rp 2.55 trillion (2018) to Rp 2.53 trillion (2019).
Furthermore, the company notched a significant increase in other operational income, 41.96%, rising from Rp 78.98 billion (2018) to Rp 112.12 billion (2019) and financial income, 140.99%, rising from Rp 6.19 billion (2018) to Rp 14.92 billion (2019). Although other operational expenses and financial expenses also rose, 20.28% and 50.17%, respectively, the increase in other operational income and financial income were significantly higher and suffices to cover the expenses, resulting in an increase of net profit. (ARM/AC)