JAKARTA. PT Wismilak Inti Makmur Tbk (WIIM), a cigarette manufacturer with the third highest market capitalisation in Indonesia, reported net profit of IDR 147.24 billion in the first half (H1) of 2024.

Said number was 40% year-on-year (yoy) lower from the same period last year, in which WIIM booked net profit of IDR 246.88 billion.

According to the recently released financial report, WIIM’s net profit decline in H1 2024 was seemingly due to its low net sales, only reaching IDR 2.22 trillion. For comparison, its sales shrank 6.7% yoy from IDR 2.38 trillion.

In addition, WIIM’s selling expenses in H1 2024 also swelled 8.7% yoy to IDR 207.99 billion, as did its general and administrative expenses by 9.2% yoy to IDR 115.83 billion.

Until June 30, 2024, WIIM’s total assets were reported at IDR 2.51 trillion, while total equity was at IDR 1.77 trillion. (KR/ZH)