Yoghurt And Milk Products Make Cimory's Net Profit Owned By Conglomerate Bambang Sutantio Soar 346 Percent To IDR 790 Billion

Illustration. (Photo: Doc. Antara)

JAKARTA - The company owned by conglomerate Bambang Sutantio, PT Cimory Mountain Dairy Tbk (CMRY) managed to record a net profit surge of 346 percent to IDR 790 billion at the end of 2021 from previously only being able to reap a profit of IDR 177 billion in 2020.

What's the secret? Cimory Group President Director Farell Sutantio explained that this achievement was supported by an increase in sales contribution from the Dairy and Consumer Foods segments. According to him, the increasing contribution from this segment is the result of the focus on product innovation and creating new markets in the protein-based food category.

"For this year, CMRY will continue to strive to launch innovative food products, expand distribution channels and invest in cold chain logistics. We believe that the market in Indonesia for innovative, high-quality, and nutritious food products will grow rapidly in the future," he explained in a written statement, quoted Monday, March 28.

In detail, the dairy segment recorded a sales increase of 120 percent to IDR 2.65 trillion. Meanwhile, the consumer foods segment recorded sales growth of 119 percent to IDR 1.44 trillion.

During 2021 Cimory Mountain Dairy recorded net sales of Rp. 4.9 trillion, a significant increase of 120 percent when compared to the same period in the previous year.

Still in the same period, Cimory recorded an increase in total assets of 416 percent to IDR 5.60 trillion compared to 2020 which reached IDR 1.08 trillion. With details consisting of current assets to IDR 4.83 trillion and non-current assets to IDR 771 billion.

Meanwhile, the total liabilities in 2021 will be IDR 907 billion. The current liabilities reached IDR 845 billion and long-term liabilities reached IDR 62 billion.

Cimory Mountain Dairy's total equity grew to IDR 4.69 trillion in 2021, from IDR 734 billion in 2020. In terms of cash flow, the company, which is famous for its yogurt products under the Cimory brand, also managed to increase net cash flow from operating activities in a position surplus in 2021 to IDR 726 billion, from the previous IDR 199 billion in 2020.