Tahan Pandemi, Garudafood Owned By Conglomerate Sudhamek Agoeng Waspodo Recorded Profits IDR 424.83 Billion In 2021

JAKARTA - PT Garudafood Putra Putri Jaya Tbk has proven its resilience as a consumer-based company in the face of the COVID-19 pandemic, with positive financial performance. In fact, the company owned by the conglomerate Sudhamek Agoeng Waspodo recorded huge profits in 2021.

Citing the company's financial statements, Garudafood posted a net profit of IDR 424.83 billion. This big profit grew by 63.77 percent from net profit in 2020 of IDR 259.41 billion.

This positive achievement cannot be separated from the company's net sales, which rose 13.86 percent from IDR 7.72 trillion to IDR 8.79 trillion.

In this sales post, Garudafood was also successful in boosting its export sales. The value is IDR 390.69 billion, equivalent to 4.44 percent of total net sales.

On the other hand, Garudafood managed to reduce general and administrative expenses from IDR 570.79 billion to IDR 532.56 billion. In addition, other income records rose 34.37 percent from IDR 67.68 billion to IDR 90.94 billion.

The company's management said that since early 2020, the COVID-19 pandemic, which affected business and economic activities in Indonesia to a certain extent, had no impact on Garudafood's business.

Even so, management will closely monitor developments from the COVID-19 pandemic and always evaluate the impact on the company's business, financial position, and results of operations.