JAKARTA – Despite its revenue growing by 18.67% in H1 2021, PT Supreme Cable Manufacturing & Commerce Tbk (SCCO) or Sucaco sees a significant decline of 37.28% in its net profit compared to the number reported in H1 2020. This loss is caused by the inflated revenue cost and sales and distribution expenses.
In the Financial Report H1 2021 published today (13/8), Bayu Adiwijaya Soepono, President Director of Sucaco, reveals that its revenue shifts from IDR 2.10 trillion to IDR 2.49 trillion. However, its cost of revenue soars by 26.60%, from IDR 1.85 trillion to IDR 2.24 trillion. Thus, this massive upturn causes the gross profit to reach IDR 152.39 billion from IDR 25.98 billion reported in H1 2020.
Furthermore, its earnings before tax also drop to IDR 106.88 billion from IDR 177.98 billion as the selling expense jumps to IDR 46.83 billion from IDR 32.75 billion. Fortunately, its operating expense depletes from IDR 73.99 billion to IDR 45.50 billion. However, its net profit still suffers a downturn, from 139.66 billion to IDR 87.58 billion.
The revenue mostly comes from the cable sales of IDR 2.4 trillion, slightly improving from IDR 2.32 trillion. Then, insulation sales follow with IDR 94.46 billion, growing from IDR 69.29 billion. Affiliate parties contribute the most to the sales as PT Sibalec brings in IDR 606.70 billion (24.32%), while PT Kabelindo Murni Tbk adds IDR 564.10 billion (22.61%) to the total sales. (LK/ZH)