JAKARTA – Despite a 34.83% increase in its revenue, PT MAP Boga Adiperkasa Tbk (MAPB) reported 50% slippage in its profit in Q1 2023. For comparison, in the first quarter of 2022, its profit managed to proliferate from the loss it faced in the same period in 2021.

Based on the Q1 2023 Financial Report quoted Tuesday (2/5), the company's revenue arrived at IDR 956.56 billion, increasing from IDR 709.61 billion on Q1 2022. The beverages segment generated the most revenue of IDR 571.13 billion, followed by the food segment of IDR 324.36 billion, and others of IDR 61.33 billion.

The gross profit was recorded at IDR 653.20 billion, also growing from IDR 493.68 billion. However, the increase in the cost of sales lowered down the earnings before taxes to IDR 26.69 billion from the initial IDR 51.03 billion seen in the same period last year. After taxes, the net profit was stuck at IDR 20.59 billion, declining from IDR 41.62 billion.

In Q1 2022, MABP gained strength in its Q1 2022's profit, turning the tables around from a loss of IDR 22.82 billion in Q1 2021. MABP also managed to score revenue of IDR 551.63 billion and gross profit of IDR 370.96 billion in Q1 2022. (LK/ZH)