Cimory, Milk And Yoghurt Producer Owned By Conglomerate Bambang Sutantio Raised Sales Of IDR3.13 Trillion And Profit Of IDR581.1 Billion In Semester I 2022

Cimory Mountain View. (Photo: Doc. Cimory)

JAKARTA - Milk and yogurt producer owned by conglomerate Bambang Sutantio, PT Cisarua Mountain Dairy Tbk (CMRY) or Cimory managed to pocket net sales of Rp. 3.13 trillion in the first semester of 2022. This achievement rose 98.1 percent compared to the same period last year which amounted to Rp. 1 .58 trillion.

Along with soaring revenues, Cimory's net profit in the first semester of 2022 was able to penetrate IDR 581.1 billion in the first semester of 2022. This achievement jumped 58.1 percent compared to the same period last year of IDR 367.5 billion.

In financial position, the producer of Cimory milk and Kanzler sausage recorded an increase in liabilities of around 21 percent as of June 30, 2022 to Rp. 1.09 trillion from Rp. 906.8 billion at the end of last year. This increase was mostly influenced by the increase in short-term liabilities which rose by Rp195.53 billion to Rp1.04 trillion in the middle of this year.

"Total liabilities increased due to an increase in trade payables due to an increase in the volume of purchases of raw materials from suppliers," said Cimory Finance Director Martua Parningotan Sihaloho in a written statement, quoted Monday, July 25.

Cimory's liabilities also increased due to an increase in dividend payable from the dividend announcement at the 2022 Annual General Meeting of Shareholders (AGMS). Then, there was an increase in promotion and advertising accrual expenses as well as subsidiaries as an effort to increase sales.

Meanwhile, Cimory's total assets as of June 30, 2022 rose 5 percent to Rp. 5.87 trillion from the position of December 31, 2021, which was valued at Rp. 5.6 trillion. This increase was influenced by the increase in non-current assets of Rp. 905 billion to Rp. 1.6 trillion at the end of the first semester of 2022.

Previously, Cimory Group President Director Farell Sutantio had said that his party was studying the Southeast Asian market, especially Vietnam, Malaysia, and Singapore to increase export destinations. Currently, the Philippines is still the main focus of the CMRY export market.