The Profit Of Ultra Milk And Box Tea Producers Owned By Conglomerate Sabana Prawirawidjaja Drops 27 Percent To Rp291.86 Billion In The First Quarter Of 2022

Illustration. (Photo: Doc. Ultrajaya)

JAKARTA - The performance of the Ultra Milk and Teh Kotak producer belonging to the Sabana Prawirawidjaja conglomerate, PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ) declined in the first quarter of 2022. The company's profit even fell by 27.67 percent in the first three months of this year.

In ULTJ's financial report, quoted on Sunday, May 1, the company recorded a net profit of Rp.291.86 billion, down 27.67 percent compared to profit in the first quarter of 2021, which was Rp.403.53 billion.

Meanwhile, ULTJ posted revenue of IDR 1.83 trillion. The realization rose 20.39 percent compared to the previous year's achievement of Rp. 1.52 trillion.

The increase in cost of goods sold caused ULTJ's operating profit to decline from Rp533.8 billion to Rp406.12 billion in the first quarter of 2022.

In terms of sales contributors, ULTJ's main revenue still came from beverage sales worth Rp1.99 trillion. This realization increased by a percent compared to the first quarter of 2021 which was valued at Rp. 1.64 trillion.

Furthermore, ULTJ's beverage exports decreased to Rp2.42 billion from the previous Rp3.7 billion. Meanwhile, food sales in the domestic market experienced a slight decline to Rp24.21 billion and exports fell deeper to Rp349 million.

Meanwhile, ULTJ's total assets until the first quarter of 2022 were observed to increase to Rp7.83 trillion. Meanwhile, the company's liabilities rose to Rp. 2.39 trillion from the previous Rp. 2.26 trillion.