This Shrimp Cultivation Company Whose Shares Are Owned By Thai Conglomerate Benjamin Jiavaranon Earns Rp2.11 Trillion In Profit In The Third Quarter Of 2021

Illustration. (Photo: Unsplash)

JAKARTA - The fish and shrimp cultivation industry company, PT Central Proteina Prima Tbk (CPRO) was able to reverse its losses in the third quarter of 2020 into profits in the first nine months of this year.

In CPRO's financial report, quoted on Thursday, November 11, the company, which is 6.18 percent owned by Thai conglomerate Benjamin Jiavaranono, recorded a net profit attributable to owners of the parent entity of IDR 2.11 trillion.

This amount is inversely proportional to the record net loss of IDR 68.59 billion in the same period last year.

The company also managed to record revenue of IDR 6 trillion in the third quarter of 2021. This number increased year on year (YoY) when compared to revenue in the third quarter of 2020 of IDR 5.99 trillion.

CPRO's revenue was dominated by sales of feed products of IDR 4.76 trillion, an increase compared to the third quarter 2020 record of IDR4 38 trillion. Sales of food products became the second-largest revenue contributor with a value of IDR1 trillion.

Following behind these two segments were sales of fried fries of IDR.215.78 billion, as well as other products worth IDR 15.01 billion. CPRO posted a decrease in liabilities of IDR 3.83 trillion on September 30, 2021, compared to the position as of December 31, 2020, of IDR 5.61 trillion.

The total liabilities consist of IDR 2.13 trillion in current liabilities and IDR 1.7 trillion in long-term liabilities. Meanwhile, the company posted an increase in total assets to IDR 6.66 trillion from the position as of December 31, 2020, which was IDR 6.32 trillion.

The company's total cash and cash equivalents increased to IDR205.84 billion, compared to the position on September 30, 2020, of IDR 157.78 billion.