JAKARTA. PT HK Metals Utama Tbk. (HKMU), a company that sells metal products, recorded net profit growth of 29.1% Year on Year (YoY) in 2019 to Rp 86.37 billion.
In its annual financial report, HKMU management said the growth was supported by its sales in 2019 which reached Rp 1.27 trillion, 47.1% higher than its record in 2018.
Nevertheless, HKMU admitted that there was a decline in its net profit margin to 7.02% in 2019.
The decline in HKMU's net profit margin was mainly caused by the increase in the cost of goods sold, which reached Rp 1.04 trillion in 2019.
In 2019, HKMU sold 56.89 thousand units of toilet & sanitary wares, 771.12 tons of stainless steel, 1.52 million units of PVC pipes, and 5.63 tons of aluminum. (KR/AR)