JAKARTA - PT Ifishdeco Tbk (IFSH) posted revenues in 2019 amounting to Rp 1.08 trillion. This amount increased by around 114% from the previous year's achievements of Rp 506.10 billion.
Based on IFSH's financial statements ending on December 31, 2019, the largest contribution to sales came from sales to third parties amounting to Rp 898.52 billion, while sales to related parties namely Mallerstein PTE LTD were recorded at Rp 186.79 billion. In 2018, sales to third parties were only Rp 163.76 billion and sales to related parties amounted to Rp 342.34 billion.
IFSH cost of goods sold also skyrocketed by 149.75% to Rp 622.17 billion from Rp 249.11 billion in 2018. This increase was driven by transportation and nickel ore mining fees which rose from Rp 198.21 billion in 2018 to Rp 387.74 billion at the end of 2019.
The company also recorded sales and general and administrative expenses of Rp 285.91 billion and Rp 62.78 billion, respectively. Thus, the company's net profit in 2019 reached Rp 111.79 billion, up 183.54% yoy from the previous year of Rp 39.42 billion. (LM)