JAKARTA. The effort to push down several expenses paid off as PT Baramulti Suksessarana Tbk (BSSR) reported the net profit landed within the positive zone by the end of 2020 despite its declining sales of 20.71%.
On the financial report released on Thursday (25/3), it was revealed that the coal mining company had recorded a shrinkage in its revenue by 20.71%, from USD 418.08 million (2019) to USD 331.46 million (2020). This downturn was also followed by the declining cost of goods sold by 24.72%, selling and distribution expenses by 15.20% to USD 48.94 million, and financial expenses by 33.74% to USD 855.904 million.
Despite the declining sales performance, diminishing expenses helped to keep the net profit within the positive area albeit without significant changes, only from USD 30.46 million to USD 30.52 million.
At the same time, the company’s total assets in 2020 slightly increased, around 5.05% to USD 263.34 million, due to growing equity by 11.77%, while liabilities decreased 9.20% to USD 72.96 million. Then, the company’s cash and cash equivalents also increased 99.47% to USD 25.43 million. (AM/ZH)
JAKARTA. The effort to push down several expenses paid off as PT Baramulti Suksessarana Tbk (BSSR) reported the net profit landed within the positive zone by the end of 2020 despite its declining sales of 20.71%.
On the financial report released on Thursday (25/3), it was revealed that the coal mining company had recorded a shrinkage in its revenue by 20.71%, from USD 418.08 million (2019) to USD 331.46 million (2020). This downturn was also followed by the declining cost of goods sold by 24.72%, selling and distribution expenses by 15.20% to USD 48.94 million, and financial expenses by 33.74% to USD 855.904 million.
Despite the declining sales performance, diminishing expenses helped to keep the net profit within the positive area albeit without significant changes, only from USD 30.46 million to USD 30.52 million.
At the same time, the company’s total assets in 2020 slightly increased, around 5.05% to USD 263.34 million, due to growing equity by 11.77%, while liabilities decreased 9.20% to USD 72.96 million. Then, the company’s cash and cash equivalents also increased 99.47% to USD 25.43 million. (AM/ZH)