JAKARTA – PT Garudafood Putra Putri Jaya Tbk (GOOD) posted 19.44% year-on-year (yoy increase in its sales. However, its profit only hit below 10% of its revenue.

Quoted from the 2022 Financial Report published today (1/3), Hardianto Atmadja, President Director of Garudafood, revealed that the company managed to collect sales of IDR 10.51 trillion, shifting higher from USD 8.79 trillion in 2023.

The sales were mostly generated by third-party users, which brought in IDR 10.26 trillion, increasing from IDR 8.61 trillion in 2021. Meanwhile, sales to related parties were only IDR 250.52 billion, although still growing from IDR 183.90 billion.

The gross profit was recorded at IDR 2.65 trillion, still higher than IDR 2.41 trillion seen in the same period in 2021. Its current year’s net profit clocked up to IDR 521.71 million in 2022, shyly rising from IDR 492.63 billion in 2021. It resulted from weak growth of its profit before taxes, which was only 6.57% yoy higher from IDR 632.65 billion to IDR 674.25 billion. (LK/ZH)