Garudafood, Snack Producer Owned By The Conglomerate Sudhamek Raises Sales Of IDR 2.27 Trillion In The First Quarter Of 2021

JAKARTA - PT Garudafood Putra Putri Jaya Tbk posted an increase in performance in the first three months of this year. This issuer of snack producers codenamed GOOD has managed to increase their sales achievement in the first quarter of 2021.

In Garudafood's financial report published on the Indonesia Stock Exchange website, quoted on Friday, July 9, the company owned by the Sudhamek conglomerate managed to record a net sales growth of 1.20 percent to IDR 2.27 trillion in the first quarter of 2021 from the previous IDR 2.24 trillion in the first quarter of 2020.

Garudafood's net sales in the first three months of 2021 include sales to related parties consisting of local sales of IDR 52.57 billion and export sales of IDR 10.56 billion. Then sales to third parties, including local and export, amounted to IDR 2.11 trillion and IDR 93.39 billion, respectively.

Along with the growth in net sales, the cost of goods sold also crawled up to 4.17 percent from IDR 1.52 trillion in the first quarter of 2020 to IDR 1.59 trillion in the first quarter of 2021.

However, the company managed to cut expenses on selling expenses to IDR 335.47 billion at the end of last March. This figure was reduced by 12.20 percent from selling expenses in the same period the previous year which reached IDR 382.10 billion.

On the other hand, Garudafood's general and administrative expenses increased 4.98 percent to IDR 144.34 billion. Meanwhile, in the same period last year, GOOD only recorded general and administrative expenses of IDR 137.48 billion.

As a result, until the end of the first quarter of 2021, Garudafood earned a profit for the current period attributable to owners of the parent entity of IDR 122.73 billion, a decrease of 12.62 percent from the previous IDR 140.47 billion in the first quarter of 2020.