JAKARTA - The animal feed company owned by the Thai conglomerate Cheavaranont Brothers, PT Charoen Pokphand Indonesia Tbk (CPIN) posted revenue of Rp28.64 trillion in the first semester of 2022. This achievement grew 12.44 percent of revenue in the same period last year of Rp25.47 trillion.
In CPIN's financial report, quoted on Thursday, September 15, this increase in revenue was followed by cost of goods sold and revenue which shot up 17.74 percent from the previous Rp20.17 trillion to Rp23.75 trillion in the first half of 2022. Thus, the total gross profit decreased 7.56 percent from the previous Rp5.29 trillion to Rp4.89 trillion.
At the same time, Charoen Pokphand Indonesia also recorded an increase in a number of expense items. For example, in the selling expense, which rose from Rp760.31 billion to Rp979.98 billion, then general and administrative expenses increased by Rp811.55 billion to Rp836.55 billion.
Furthermore, the loss of the difference in exchange rate also increased from the previous Rp11.09 billion to Rp29.35 billion. Other expenses also rose from Rp61.62 billion to Rp80.43 billion.
Meanwhile, financial expenses fell 13.13 percent from Rp175.74 billion to Rp152.66 billion. Then, the tax burden also decreased 20.92 percent from the previous Rp733.62 billion to Rp580.11 billion in the first half of this year.
After deducting other expenses, CPIN earned a net profit of IDR 2.42 trillion, down 14.48 percent from net profit in the first half of last year of IDR 2.83 trillion.
Until June 2022, CPIN pocketed an asset amount of IDR 39.09 billion, up from the position at the end of last year of IDR 35.44 billion.
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