JAKARTA (Yosefardi) – Plastic processing company PT Berlina Tbk booked net profit of Rp21.2 billion in the first half of 2013, dropped by 20% from the corresponding period of 2012 due to the squeezed margins.
Berlina’s sales revenue actually grew 14% to Rp462.7 billion in the period, but cost of goods sold also increased by 21%. As a result, the company’s gross profit dropped from RP91.98 billion to Rp85 billion.
Both marketing and general & administrative expenses grew significantly by 32% and 8% respectively, cutting further its operating profit to Rp46.6 billion.
As cost of finance grew 14% to Rp16 billion, Berlina then reported net profit of Rp21.2 billion, down 20% from Rp26.7 billion in the corresponding period of 2012.
Berlina’s main customer is consumer goods giant PT Unilever Indonesia (UNVR) Tbk.