JAKARTA. PT Supreme Cable Manufacturing & Commerce Tbk (SCCO) has reported a shrinkage in its net profit by 24.54% year-on-year (yoy) to IDR 237.88 billion throughout 2020.
According to the newly released financial report, this decreasing net profit happened due to the company’s weakening revenue performance, declining by 18.96% yoy. Previously, in the fiscal year 2019, the company could still secure a revenue of IDR 5.7 trillion.
To provide further details, most of SCCO’s revenue came from cable products sales, contributing IDR 4.2 trillion. The insulation products sales also added IDR 418.4 billion, while the melamine products yielded no additional income.
Meanwhile, consumer-wise, 25.28% of SCCO products were sold to PT PLN (Persero), 19.41% to PT Sibalec, and another 13.30% to PT Kabelindo Murni Tbk (KBLM).
By the end of December 2020, 33.56% of SCCO shares were controlled by PT Moda Sukma, while 29.67 belonged to PT Tutulan Sukma, 11.81% to Furukawa Electric Co. Ltd., and the remaining 24.96% to public investors. (KR/ZH)