JAKARTA. The net sales of PT Hanjaya Mandala Sampoerna Tbk (HMSP) in Q1 2021 only slightly decreased by 0.54% to IDR 23.55 trillion. However, the increase in several expenses has consumed the current year profit by 22.13%.
Based on its Q1 2021 financial report, the said cigarette manufacturer recorded net sales of IDR 23.55 trillion, which was less than IDR 23.86 trillion recorded in Q1 2020. On the other hand, the costs of goods sold went up to IDR 18.52 trillion from IDR 17.82 trillion, leading to the decreasing gross profit of IDR 5.03 trillion compared to IDR 5.86 trillion in Q1 2020.
Meanwhile, the selling expenses reached IDR 1.42 trillion, which increased from IDR 1.36 trillion. This gain led to the declining earnings before tax to IDR 3.31 trillion from IDR 4.3 trillion in 2020. In the end, the company only managed to score the current year profit of IDR 2.59 trillion, 22.13% lower than IDR 3.32 trillion in March 2020. (AM/ZH)