JAKARTA. Cooking oil producer of Sinarmas group, PT Sinar Mas Agro Resources and Technology Tbk. recorded revenue growth in 2020 of 11.7% to IDR 40.43 trillion.
Based on the company's financial report, the revenue consists of sales of the integrated consumer product business segment and trading activities amounting to IDR 35.83 trillion, the plantation segment IDR 5.81 trillion, and other segments amounting to IDR 2.93 trillion.
Although there was an increase in cost of revenue by 7% percent to IDR 34.55 trillion, the company managed to record an increase in interest income of IDR 221.07 billion and other income of IDR 516.55 billion.
In the end, SMAR booked a net profit that could be distributed to the owners of the parent entity of IDR 1.53 trillion, an increase of 71.2% compared to the net profit in 2019 of IDR 898.63 billion.
On the balance sheet side, SMAR's total liabilities swelled to IDR 22.5 trillion at the end of 2020, compared to IDR 16.85 trillion at the end of 2019. Meanwhile, total assets increased to IDR 35.02 trillion from IDR 27.78 trillion. (AM/LM)