JAKARTA (Yosefardi) – Lower sales and higher cost cut Gozco Plantations’ net profit by 82% to Rp14.4 billion in first nine months of this year, from Rp82.58 billion in the same period of last year.
Net sales declined to Rp264.58 billion from previous Rp295.28 billion. Sales of crude palm oil (CPO) totaled Rp237.85 billion and kernel sales was Rp24.1 billion.
While cost of goods sold reached Rp221 billion, higher than Rp187.97 billion in first nine months of 2012. Its assets totaled Rp3.23 trillion while liability amounted Rp1.6 trillion.