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Limas Indonesia shows slight growth in profit after last year’s loss

12 July 2021 10:28

JAKARTA – PT Limas Indonesia Makmur Tbk (LMAS) manages to score slight gains in Q1 2021 after applying efficiency in its sales cost and cut back its foreign exchange losses. In the same period last year, the company suffers from an IDR 19.76 billion loss.

In the Financial Report of Q1 2021 published on Monday (12/7), Ibin Bachtiar, President Director of Limas Indonesia, reveals that the sales are reported to diminish by 58.44% to IDR 14.93 billion from IDR 35.93 billion. Its gross profit also goes down to IDR 7.89 billion from IDR 11.67 billion. However, efficiency strategies applied on sales expense successfully reduce it down to IDR 6.96 billion in Q1 2021.

Furthermore, the company scores IDR 2.51 billion in operating profit, recovering from the operating loss of IDR 17.13 billion in the same period last year. This achievement is possible due to the efficiency of sales expense and forex loss of IDR 2 billion, significantly shrinking from IDR 25.46 billion.

On the other hand, the decline in sales is visible on all business lines. For example, rentals and maintenance services drop to IDR 13.87 billion from IDR 32.04 billion. However, stockwatch and stocktrade values increase to IDR 953 million from IDR 522 million. Meanwhile, the hardware and software sales contribution remain stagnant from last year, scoring IDR 3.19 billion.

The only customer bringing in 48% contribution to the total revenue is Pertamina Hulu Sanga of IDR 7.22 billion. In the same period last year, the contribution of the said subsidiary of Pertamina reached IDR 12.36 billion, equal to 34% of the total revenue at that time. (LK/ZH)

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