Gudang Garam profit takes a 39.52% downturn
JAKARTA – The profit of PT Gudang Garam Tbk (GGRM), the cigarette manufacturer, shrinks 39.52% to IDR 2.31 trillion in the first half of 2021 from IDR 3.82 trillion reported in the same period last year. This loss is the outcome of the increased selling expenses by 20.11%.
In the Financial Report H1 2021 published earlier today (30/7), GGRM is revealed to score IDR 60.58 trillion in revenue, which in fact, grows 12.92% from IDR 54.65 trillion. However, its gross profit slides off to IDR 8.54 trillion from IDR 8.66 trillion due to the surge in the selling expenses from IDR 44.93 trillion to IDR 54.04 trillion. Its operating profit also diminishes to IDR 2.98 trillion from IDR 5.21 trillion due to the increased operating expenses from IDR 3.55 trillion to IDR 3.74 trillion.
The sales in the local market are reported to reach IDR 59.72 trillion, proliferating from IDR 52.88 trillion, similar to the export sales from IDR 773.92 billion to IDR 861.27 billion. In the product segment, machine-rolled kretek cigarettes (SKM) bring in IDR 55.61 trillion, followed by hand-rolled kretek cigarettes (SKT) of IDR 4.21 trillion. Then, husk cigarettes contribute another IDR 10.97 billion, carton paper IDR 734.53 billion, and other products IDR 14.09 billion.
In H1 2020, SKM sales reached IDR 48.79 trillion, SKT IDR 4.21 trillion, husk cigarettes IDR 12.80 billion, carton paper IDR 581,17 billion, and other products IDR 45.19 billion. (LK/ZH)