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Jembo Cable’s net profit dropped 52% yoy in Q1 2021

07 May 2021 20:27

JAKARTA. PT Jembo Cable Tbk (JECC), one of the biggest cable manufacturers in Indonesia, recorded a decline in its net profit by 52% year-on-year (yoy) to IDR 3.54 billion in Q1 2021.

Based on its recently released financial report, this shrinkage went hand in hand with the weakened sales performance of JECC that decreased 5.29% yoy to IDR 439.32 billion. Furthermore, the cost of goods sold went up by 5.29% yoy to IDR 412.02 billion.

By looking at its product sales, 77% of its sales came from electric cable sales. Another 20% was from phone cable, and the remaining 3% was other goods.

According to idnfinancials.com data, 52.57% of JECC shares were controlled by PT Monaspermata Persada; 17.58% by PT Indolife Pensiontama; 13.51% Fujikura Ltd., Japan; and 6.59% Fujikura Ltd., Singapore. The remaining 9.85% were distributed amongst the public investors. (KR/ZH)

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