JAKARTA – The performance of PT Lautan Luas Tbk (LTLS) recorded shrinkage throughout 2023 compared to 2022. It slipped 49.86% year-on-year (yoy).

The Financial Report of 2023, quoted today (14/3), shows that LTLS’s revenue reached IDR 7.31 trillion, down 7.14% yoy from IDR 7.87 trillion in 2022. In 2023, the main component of the revenue is third-party sales, generating IDR 7.29 trillion, while related-party sales clocked up to IDR 23.73 billion. In 2022, third-party sales were IDR 7.83 trillion, while related parties brought in IDR 46.79 billion.

The gross profit dropped 21.23% yoy to IDR 1.18 trillion from IDR 1.50 trillion, followed by operating profit down 40.55% from IDR 588.28 billion to IDR 349.73 billion. Lastly, net profit was recorded slipping from IDR 321.01 billion to IDR 160.94 billion. (LK/ZH)