JAKARTA. PT Century Textile Industry Tbk (CNTX), a textile manufacturer established in 1970, booked another loss of USD 4.04 million in 2023.

In the recently released annual report, CNTX’s loss was triggered by its sales’ decline of up to minus 23.25% to USD 26.77 million in 2023. In 2022, the company still managed to keep afloat by scoring sales of USD 34.88 million.

The slippage of CNTX’s sales in 2023 was seen in the local and export markets. Domestic sales were recorded stuck at USD 12.8 million in 2023, down 32.8% year-on-year (yoy), while export sales dropped 11.7% yoy to USD 13.97 million.

In addition, financial expenses borne by CNTX in 2023 also swelled 119.8% yoy to USD 2.07 million. In 2022, the financial expenses were only USD 940 thousand.

According to IDNFinancials, CNTX recorded total equity of minus USD 18.81 million at the end of 2023, while its total assets clocked up to USD 33.16 million. (KR/ZH)