JAKARTA - PT Anabatic Technologies Tbk (ATIC) recorded Rp 3.9 trillion of sales in the third quarter of 2019, up by around 6% from Rp 3.73 trillion in the same quarter of 2018. Although sales recorded growth, net profit declined by around 59%, from Rp 17 billion to Rp 7 billion.

Lie David Limina, Director of PT Anabatic Technologies Tbk (ATIC) said that the decline in net profit was due to the expansion in financial technology (fintech) and the acquisition of several companies, with the impact of rising operational expenditure (Opex). "The decrease in net profit is mainly due to the fact that we are in business expansion into the fin-tech sector, as it was already described; so, when we enter the Fintech business, we are also acquiring several companies, which makes our Opex rises," he said.

In the same period, ATIC posts Rp 629 billion of gross profit, up by 9% from last year, at Rp 575 billion; operating profit was Rp 201.5 billion, went up 4% from Rp 197 billion. (LK/W)