JAKARTA – PT Kobexindo Tractors Tbk (KOBX) sees a 73.37% surge in its revenue of Q1 2021 compared to Q1 2020. This gain also comes with the skyrocketing profit to USD 1 million from USD 1.82 million loss in Q1 2020.
In its Financial Report of Q1 2021, published Monday (7/6), Andry Budiman Limawan, the President Director of Kobexindo Tractors, announced that the company’s revenue reached USD 22.55 million, climbing high from USD 13.01 million in Q1 2020. Its gross profit also doubles to USD 5.01 million from USD 2.14 million.
The revenue growth resulted from the increasing demand for heavy equipment in the plantation and mining sectors outside Java. The revenue coming from the Java area amounts to USD 10.18 million, while outside Java contributes USD 12.37 million. In the same period in 2020, the Java area added USD 8.60 million while outside Java added USD 4.40 million.
KOBX manages to sustain its profit growth at 45% in Q1 2021, following its efficiency in cost of revenue, other operating expenses, and other operating incomes. KOBX also successfully maintains its financial expenses at a stable range of USD 915,042. (LK/ZH)