Wednesday, 16 Rabiul Awwal 1441 / 13 November 2019

Wednesday, 16 Rabiul Awwal 1441 / 13 November 2019

Gudang Garam books profit of 3.27 trillion IDR

Kamis 31 Oct 2013 18:00 WIB

Rep: Andi Ikhbal/Mutia Ramadhani/ Red: Julkifli Marbun

Logo Gudang Garam

Logo Gudang Garam

REPUBLIKA.CO.ID, SURABAYA -- Indonesia's leading clove cigarette maker, PT Gudang Garam recorded profit worth 3.27 trillion IDR in the first nine months of 2013. Company's comprehensive income rose 7.7 percent from 3.04 trillion IDR last year.

Director of Treasury and Investor Relation in Gudang Garam, Heru Budiman said that production and promotion managed to increase total sales volume by five percent to 52.8 billion cigarettes, while total cigarette industry volume increased 1.7 percent.

"Our operating expenses increase constantly, but still managed properly," Budiman said recently.

Gudang Garam paid excise tax and value added tax about 70 percent of sale costs, increased 14 percent to 22.4 trillion IDR, while raw material expenses rose 16 percent to 8.5 trillion IDR. It was caused high price of cloves, while tobacco price was relatively stable. Price of cloves has declined to 200 thousand IDR per kilograms. 

Gudang Garam also continues to invest addition of new machinery and equipment for cigarette production, packaging, printing and logistic. Company assets increase 44 percent to 15.1 trillion IDR. Company's short term loan increased 42.5 percent to 13.5 trillion IDR.

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