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Antam's net profit declines by 80.18% YoY

04 August 2020 13:00

JAKARTA. Higher expenses has caused the net profit of PT Aneka Tambang Tbk (ANTM) to decline by 80.18% in the first half of 2020 to Rp 84.82 billion. In the first half of 2019, the company actually booked a net profit of Rp 428 billion.

The company's financial report revealed that Antam's sales also dropped by 36% YoY to Rp 9.23 trillion.

Senior Vice President/Corporate Secretary of Antam, Kunto Hendrapawoko, said that gold was the largest contributor to the company's revenue, reaching Rp 6.41 trillion or 69% of ANTM's total revenue, followed by ferronickel which contributed Rp 2.02 trillion.

Along with the decline in sales, selling expenses also decreased to Rp 7.92 trillion. However, financial expenses rose significantly to Rp 382 billion. (AM/AR)

 
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