Sinar Mas Profit Drops 39.8 Percent

jaysonhyd   July 13, 2016  

Net income PT. Sinar Mas Agro Resources and Technology Tbk. (SMART) tumbled 39.8 percent during the first half of this year, or Rp 795.42 billion from Rp 1.11 trillion.

Based on the company’s disclosure to the Indonesia Stock Exchange, Thursday, August 1, 2013, which can diatrirbusikan profit to equity holders of the parent decreased due to the company’s net sales were eroded to Rp 11.18 trillion. That figure is down 21.49 percent compared to the same period of the previous year of Rp 13.58 trillion.

While the cost of goods sold and agribusiness plantation companies had dropped to Rp 9.3 trillion from Rp 10.33 trillion. Operating expenses also dropped from Rp 1.62 trillion to Rp 881.12 billion. Thus, the company’s operating profit reached Rp 996.97 billion.

Earnings per share also fell by 110 points to Rp 277 per share from Rp 387 per share. SMART currently has total assets worth a total of Rp 15.04 trillion, with the composition of current assets amounting to Rp 5.24 trillion and non-current assets of Rp 9.8 trillion.

Weakening performance was also felt by the palm oil company PT Astra Agro Lestari Tbk. (Aali). Aali recorded a decline in profit for the period during the first half of 2013 to Rp 745.64 billion from Rp 996.36 billion in the first half of 2012.

Of the company’s financial llaporan be published in the Indonesia Stock Exchange, July 29, 2013, Aali net income is lower than the second half of last year’s Rp 5.64 trillion to Rp 5.49 trillion. The company’s revenue eroded by the increased cost of revenue increased to Rp 4.03 trillion from Rp 3.84 trillion. This makes the company’s gross profit fell to Rp 1.45 trillion.