Japfa Comfeed, A Livestock Company Owned By Conglomerate Handojo Santosa Raises Sales Of IDR 24.48 Trillion And Profit Of IDR 1.11 Trillion In Semester I 2022

Photo: Doc. Japfa Comfeed

JAKARTA - The livestock and processed food company owned by the Handojo Santosa conglomerate, PT Japfa Comfeed Indonesia Tbk (JPFA) earned a profit for the year of IDR 1.11 trillion in the first semester of 2022. This achievement decreased compared to the same period the previous year of IDR 1.54 trillion.

However, quoted from JPFA's August 2 financial report, the company's net sales increased by 10.74 percent to IDR 24.48 trillion from the previous IDR 22.10 trillion. Sales of the commercial livestock segment became the largest contributor by contributing IDR 9.62 trillion from the previous IDR 8.71 trillion.

Then, sales of the animal feed segment rose 6.16 percent to IDR 6.87 trillion from the previous IDR 6.47 trillion. Then, the livestock product processing segment and consumer products contributed IDR 3.70 trillion from the previous IDR 3.06 trillion.

In addition, sales of aquaculture products rose 30.49 percent to IDR 2.35 trillion from the previous IDR 1.80 trillion. The trade and other segments contributed IDR 1.08 trillion, while sales of poultry breeding products fell 13.68 percent to IDR 1.24 trillion from IDR 1.44 trillion.

The decline in JPFA's profit in the first half of this year was driven by an increase in the company's expenses. Cost of goods sold rose 18.76 percent from IDR 16.90 trillion to IDR 20.08 trillion.

In addition, sales and marketing expenses rose 8.43 percent to IDR 908.43 billion from the previous IDR 837.75 billion. Meanwhile, general and administrative expenses fell to IDR 1.57 trillion from the previous IDR 1.67 trillion.

During the first six months of this year, the company's total asset value grew by 14.78 percent to IDR 32.81 trillion from the previous IDR 28.58 trillion. The company's liabilities rose 24.48 percent to IDR 19.27 trillion from the previous IDR 15.48 trillion. The company's equity also grew 3.31 percent to IDR 13.53 trillion from IDR 13.10 trillion.

This year, the company has budgeted capital expenditure (capex) of IDR 1.9 trillion to IDR 2 trillion. Meanwhile, the spent capex is mostly used to support the operational infrastructure of poultry and aquaculture, as well as the company's other businesses in production goods.