JAKARTA - The Large-Scale Social Restrictions (PSBB) policy, which is implemented since the end of March 2020, did not affect the performance of PT Akhasa Wira International Tbk (ADES) too significantly in the first quarter (Q1) of 2020. The producer of AdeS drinking water booked revenue of Rp 198.98 billion, higher than its record in Q1 2019 of Rp 191.19 billion.
As quoted from the company's financial statements, revenue growth was recorded in all of the company's business segments. The company recorded Rp 132.33 billion of revenue from beverages and Rp 66.65 billion from cosmetics. In Q1 2019, the company obtained Rp 128.80 billion of revenue from beverages and Rp 62.38 billion from cosmetics.
ADES' gross profit actually declined from Rp 93.23 billion to Rp 91.56 billion in Q1 2020, due to an increase in cost of goods sold. However, the company still able to record a profit of Rp 21.21 billion due to better efficiency. (LK/AR)