JAKARTA – The net profit of PT Sekar Bumi Tbk (SKBM) skyrocketed 5,098% in Q3 2021 due to the increase in revenue and the efficiency of costs of sales. The exported frozen seafood product reportedly became the main pillar that supported its revenue growth.
In the financial report of SKBM quoted Tuesday (22/11), Oei Harry Lukiminto, President Director of Sekar Bumi, claimed that the current year’s net profit had reached IDR 52.30 billion. soaring from IDR 1 billion in the same period in 2021.
This profit surge coincided with the satisfactory sales performance, growing 3.91% year-on-year (yoy) from IDR 2.78 trillion to IDR 2.89 trillion. On the other hand, SKBM managed to reduce its cost of sales, from 88.50% of total revenue to only 83.55%. As a result, its gross profit proliferated 48.45% yoy from IDR 320.19 billion to IDR 457.34 billion, as did its operating profit. The operating profit proliferated 197.76% yoy, almost tripled from IDR 33.26 billion to IDR 98.93 billion.
The contributor to SKBM’s revenue is the sales of frozen seafood products, which slightly climbed from IDR 2.74 trillion of sales to IDR 2.79 trillion. In the meantime, the frozen processed food products brought in IDR 103.23 billion, shifting from IDR 60.72 billion.
Market-structure-wise, export sales brought home IDR 2.79 trillion, covering 96.47% of total revenue. Then, the domestic market sales covered the remaining IDR 101.61 billion. In the same period in 2021, SKBM reported export sales of IDR 2.72 trillion or 97.88% of total sales, while domestic contributed IDR 59.09 billion. (LK/ZH)