SINGAPORE (Yosefardi) – Samko Timber Limited reported its net profit increased 47% to Rp24 billion in first quarter (1Q) of this year, attributable mainly to higher revenue generated from both local and export sales.
Its domestic sales improved 4% to Rp577.92 billion, mainly due to increase in the average selling price of 19%.
While the sales volume decreased 6% affected by the unfavourable wet weather condition and the process of parliamentary and the presidential elections this year which have somewhat slow down the local business activities as a whole.
On the export front, Samko’s average price and sales volume have both registered an increase of 11% and 31% respectively as compared to 1Q 2013. The composition of its export sales to overall sales raised from 22% to 29% in 1Q 2014.