JAKARTA – PT Sucaco Tbk (SCCO), a cable manufacturer, saw 12.56% increase in its revenue in the third quarter of 2022. However, its profit shrank, burdened by the swollen costs of sales.
Bayu Adiwijaya Soepono, President Director of Sucaco, mentioned that the revenue growth was accumulated from increases in cable sales, from IDR 3.51 trillion to IDR 3.92 trillion, and in insulation sales, from IDR 104.24 billion to IDR 146.14 billion. “SCCO’s total revenue rose from IDR 3.61 trillion to IDR 4.07 trillion,” he revealed in the Financial Report of Q3 2022 quoted today (2/11).
The only third-party user that made over 5% contribution to the revenue was PT Perusahaan Listrik Negara (Persero), generating IDR 265.20 billion. Meanwhile, the related users with over 10% contribution were PT Sibalec, which brought in IDR 941.92 billion, PT Kabelindo Makmur of IDR 900.17 billion, and PT Sibalex Powel Cable & Electrical of IDR 545.79 billion.
SCCO posted a gross profit of IDR 204.57 billion, shrinking from IDR 231.99 billion, following the swollen costs of revenue. Its net profit also shifted down from IDR 117.32 billion to IDR 101.82 billion. (LK/ZH)