JAKARTA. The weakened public’s purchasing power, which has yet to recover, had refrained PT Siantar Top Tbk (STTP) from improving its performance, leaving its sales to increase only by 6.89%. Thus, it subsequently leads to the decline in the current year profit of 5.15%.
Based on its released financial report by the end of June 2021, it is revealed that this consumption goods manufacturer records net sales of IDR 1.92 trillion. It is such a slight increase of 6.89% year-on-year (yoy) from IDR 1.8 trillion last year.
The increment of costs of sales of 10.73%, from IDR 1.31 trillion to IDR 1.46 trillion, in the first half of 2021 drags the gross profit down by 3.62%, from IDR 481.23 billion to IDR 463.79 billion. In the end, its current year profit is corrected as well by 5.15% from IDR 278.04 billion to IDR 263.70 billion.
The company still owns assets totalling IDR 3.45 trillion, slightly climbing by 0.16% from the number reported in 2020. Lastly, its equity shifts 9.49% to IDR 2.93 trillion, while liability is reported to reach IDR 515.44 billion. (AM/ZH)