JAKARTA - The impact of the COVID-19 pandemic has eroded the performance of PT Latinusa Tbk (NIKL) throughout 2020, where sales were recorded 11.26% lower compared to 2019. This was conveyed by Jetrinaldi, President Director of PT Latinusa Tbk (NIKL) in the 2020 Financial Report quoted on Wednesday (17/3).
He said the company's sales were recorded at US$ 144.72 million, down from the same period in 2019 of US$ 163.08 million. "The pandemic condition has resulted in lower sales volumes as the demand for tinplate on the domestic market has decreased and the average selling price has decreased," he said.
According to him, this achievement also had an impact on the gross profit performance which was recorded as much as US$ 9.78 million, 7.17% lower than the 2019 period of US$ 10.53 million. However, the gross profit margin increased to 6.76% from 6.46%. Meanwhile, total comprehensive income was recorded at US$ 2.51 million, less than US$ 2.58 million.
The NIKL products are in the form of cans for chemical products, paints, cooking oil, and general can products. (LK/LM)