JAKARTA – The profit of PT Indopoly Swakarsa Industry Tbk (IPOL) reportedly plummeted 60.88% year-on-year (yoy) to USD 3.74 million in 2022 from USD 9.9 million in 2021. This significant drop resulted from declined sales and increased expenses.

From the Financial Report Year 2022 published today (12/4), Henry Halim, President Director of POLY, said that the sales decreased 4.88% yoy to USD 227.70 million from USD 239.40 million in 2021. The gross and operating profit were both at USD 42.76 million and USD 9.29 million from the initial USD 52.14 million and USD 17.49 million in 2021.

The third-party sales generated less, down from USD 226.15 million to USD 226.15 million, as did related parties from USD 13.25 million to USD 10.01 million. The sales in the domestic market were reported arriving at USD 139.56 million, whereas the export market in China and US generated USD 87.64 million and USD 5.24 million, respectively. In 2021, domestic sales clocked up to USD 146.51 million, while its export to China and US reached USD 92.86 million and USD 4.46 million.

The net profit attributable to the parent company reached USD 3.17 million in 2022, shrinking from USD 8.83 million, while the profit attributable to non-controllers slipped from USD 668,762 to USD 566,665. (LK/ZH)