JAKARTA (Yosefardi) – Cigarette company PT Gudang Garam Tbk (GGRM) sold 41.1 billion sticks of cigarettes in first half of 2014, grew by 8% from 38.1 billion sticks in the same period of 2013.
Sales revenues increased 22.6% to Rp32.7 trillion from previous Rp26.6 trillion. Net profit was up 22.5% to Rp2.7 trillion.
While national cigarette sales declined by 9.7% year on year over the first six months of 2014.
In the machine made, full flavor categoru, representing 75% of its total sales, GGRM enjoyed 10% sales volume growth, in contrast to a 2% softening in the national market.
In the light and mild segment, now 15% of GGRM sales volume, the company recorded a strong increase of 37% in sales compared to a contraction of 6% in this category for the whole market.
Sharing the lower trend nationwide in hand rolled kretek sales, GGRM hand rolled sales were 27% lower, compared with 21% lower national sales, resulting in a decrease in the proportion of hand rolled sales volumes from 12% at the end of 2013 to less than 10% relative to total sales volumes, at the half year 2014.