Processed Food Company Owned By Conglomerate Handojo Santosa Reaches IDR 10.76 Trillion In Revenue In Q1 2021

JAKARTA - Food and poultry processing company, PT Japfa Comfeed Tbk recorded performance growth during the first quarter of 2021. The revenue and net profit of JPFA-coded issuers recorded a significant increase.

Quoted from Japfa's financial statements on the Information Disclosure Page of the Indonesia Stock Exchange (IDX), Monday, May 17, the profit for the period before the profit adjustment effect of the merged entity attributable to the owners of the parent entity amounted to IDR 856.66 billion. The achievement was up 149.12 percent from the same period last year of IDR 343.87 billion.

Meanwhile, the company's revenue from conglomerate Handojo Santosa increased to IDR 10.76 trillion, up 11.5 percent from rp9.65 trillion in the first quarter of 2020. A significant increase in net profit as the company can reduce the cost of goods sold amid increased revenue.

The cost of goods sold was IDR 7.97 trillion, up slightly from the first quarter of 2020 of IDR 7.82 trillion. Thus, the company's gross profit increased significantly to IDR 2.79 trillion from the previous year's position of IDR 1.82 trillion.

On the other hand, Japfa's total liabilities increased to IDR 20.38 trillion, up from IDR 14.53 trillion at the end of 2020. In detail, total short-term liabilities increased to IDR 10.49 trillion compared to the end of 2020 of IDR 6 trillion.

Meanwhile, total long-term liabilities increased to IDR 9.88 trillion from IDR 8.53 trillion on December 31, 2020. The company's total equity increased to IDR 12.35 trillion from rp11.41 trillion at the end of last year.

Meanwhile, the company's total assets increased sharply to IDR 32.73 trillion, up from IDR 25.95 trillion at the end of 2020. The breakdown of current assets increased to IDR 18.52 trillion, up from IDR 11.74 trillion on December 31, 2020.

With the main increase in cash and cash equivalents to IDR 6.06 trillion from IDR 1.33 trillion. Total non-current assets increased slightly to IDR 14.208 trillion from IDR 14.206 trillion.

PT Japfa Comfeed Indonesia Tbk is an agri-food company. Its core activities include the manufacture of animal feed, chicken farming, poultry processing, and aquaculture. The Company started its commercial operations in January 1971.