JAKARTA – The net profit of PT Astindo Nusantara Jaya Tbk (ANJT) significantly shrank 87.91% to USD 2.62 million throughout 2023 from the 2022 net profit of USD 21.72 million. This massive downturn resulted from declining revenue, plus increased cost of revenue as well as general and administrative expenses.

In the 2023 Financial Report quoted today (29/2), the company reported revenue of USD 236.51 million, down 12.13% from the 2022 revenue of USD 269.16 million.

The gross profit then dropped from USD 53.87 million to USD 31.55 million, while its gross profit margin was reported increasing to 86.65% from the initial 79.98% seen in 2022.

The most extensive contributor to the revenue is crude palm oil (CPO) sales of USD 211.93 million, which decreased from USD 232.56 million. Then, palm kernel sales also declined from USD 20.76 million to IDR 18.81 million, as did palm kernel oil sales from USD 1.03 million to USD 769,900.

Further down in the contribution list, starch flour sales also shrank from USD 1.58 million to USD 883,679, followed by edamame sales that rose from USD 1.68 million to USD 1.88 million, fresh fruit bunches sales that also increased from USD 931,861 to USD 1.61 million, and others that grew from USD 27,003 to USD 35,232. (LK/ZH)