JAKARTA – The performance of PT Pelat Timah Nusantara/Latinusa Tbk (NIKL)  was seen weakening in Q1 2023 compared to the same period in 2022. The revenue and profit both shrank massively, by 31,35% yoy and 72,75% yoy each.

In the Q1 2023 Financial Report issued Thursday (27/4), Jetrinaldi, President Director of Pelat Timah Nusantara, revealed that the company’s revenue was stuck at USD 50.19 million, sliding off from USD 73.12 million in the same period last year. The revenue was entirely generated by local market. The users with above 10% contribution to total revenue include PT Indonesia Multi Colour Printing with 19% contribution, PT United Can of 19%, and Iwan Loekantoro Laksmono of 14%.

The products include tins in coils, generating sales of USD 32.42 million, followed by tin sheets of USD 17.76 million. In 2022, coil sales were USD 49.62 million, while sheet sales were USD 23.49 million.

The gross profit and profit before taxes clocked up to USD 1.08 million and USD 1.59 million in Q1 2023, while the current year’s net profit arrived at USD 1.24 million. For comparison, in the same period in 2022, the gross profit and the profit before taxes reached USD 8.02 million and USD 5.80 million, while its net profit amounted to USD 4.57 million. (LK/ZH)