JAKARTA - PT Megalestari Epack Sentosaraya Tbk (EPAC), a packaging manufacturer, shows improvement of performance despite not being able to score any profit in 2023. Its revenue grew 2%, while the loss dropped 61.72% year-on-year (yoy) from the same period in 2022.

In the financial report of 2023 quoted Wednesday (17/1), Bahar, President Director of EPAC, mentioned that the company managed to collect IDR 80.11 billion of revenue, up from IDR 78.61 billion. The biggest contributor to the revenue was from the third parties, of IDR 79.30 billion, followed by related parties of IDR 806.46 million.

This issuer, scoring gross profit of IDR 6.77 billion, performed better compared to IDR 1.84 billion of loss recorded in 2022 due to efficiency in cost of sales. The loss before income tax shrank to IDR 19 billion from the previous IDR 48.52 billion. Its current year’s loss was also lowered from IDR 46.40 billion to IDR 17.75 billion.

Yesterday (16/1), EPAC’s stock was closed at IDR 8 per share, slipping from IDR 9 per share seen last Monday (15/1). Throughout yesterday, EPAC recorded transaction volume of 226,900 within 28 transactions worth IDR 1.81 million. (LK/ZH)