JAKARTA - PT Tunas Ridean Tbk (TURI) posted a net profit of IDR 42.8 billion in the 2020 financial year, 93% lower than the previous financial year.
Rico Setiawan, President Director of TURI, said that the decline was influenced by the Covid-19 pandemic that occurred in various countries, including Indonesia. Due to this pandemic, continued Setiawan, it had a direct impact on all business segments of the company, starting from the automotive business segment to financing.
"Despite these challenges, the group's financial position remains strong and we are committed to prioritise long-term investment strategies," said Setiawan in a press release received by idnfinancials.com.
On the other hand, TURI posted revenue of IDR 8.3 trillion in the 2020 financial year. It was 36% lower than the previous financial year.
He admitted that TURI's business performance in 2021 would still be uncertain. “There are obstacles in economic recovery that may be faced due to the ongoing pandemic," said Setiawan. (KR/VA)