JAKARTA - PT Hanjaya Mandala Sampoerna (HMSP) recorded a relatively stable performance in Q1 2020, posting a 1.10% increase in net profit, rising from Rp 3.29 trillion (Q1/2019) to Rp 3.32 trillion (Q1/2020), despite a 0.49% drop in revenue, from Rp 23.81 trillion (Q1/2019) to Rp 23.69 trillion (Q1/2020).
HMSP reported a 0.55% drop in cost of goods sold, from Rp 17.92 trillion (Q1/2019) to Rp 17.82 trillion (Q1/2020), resulting in a slight 0.30% drop in gross profit, from Rp 5.89 trillion (Q1/2019) to Rp 5.87 trillion (Q1/2020).
Furthermore, HMSP was able to effectivise selling expenses, a 0.84% drop from Rp 1.38 trillion (Q1/2019) to Rp 1.37 trillion (Q1/2020), and general and administrative expenses, a 4.54% drop from Rp 571.54 billion (Q1/2019) to Rp 545.57 billion (Q1/2020), resulting in the slight increase in net profit. (ARM/AC)