Gudang Garam Breathe profit of Rp 2.2 trillion, 4% Slightly

PT Gudang Garam Tbk (GGRM) posted a profit of Rp 2.2 trillion in the first half of 2013, edged up 4.7% from the same period last year to Rp 2.1 trillion.

As quoted from the company’s financial statements, on Thursday (01/08/2013), Gudang Garam revenue reached Rp 26.63 trillion in the first half of 2013, higher than the previous position of Rp 23.55 trillion.

On the increased revenue and profit, the company’s earnings per share rose to Rp 1,145 per share from Rp 1,092 per share.

Cost of sales producer of clove cigarettes is also up from the previous Rp 19 trillion in the first half of 2012 to Rp 21.33 trillion this year. The burden on the company’s operating profit rose to Rp 3.233 trillion from Rp 3.046 trillion.

Salt and Sugar Production Decline SOEs

Performance PT Garam (Persero) until the first quarter of 2013 was still less than satisfactory due to the decreased production of salt. This was stated by Minister of State Owned Enterprises (SOEs) Dahlan Iskan. Even so, the former president director of PLN is informed with the condition.

“Salt is still bad performance. See it continues to rain, wet dry so it can not harvest the salt. These three months can not be production, but because of the weather so what can we do,” Dahlan said in Jakarta on Monday (22/7).

Dahlan stated that the manufacturer and distributor of salt salt production recorded a decrease to 40 percent due to weather uncertainty. In addition to salt, some sugar mills owned owned company also decreased production.

“If the sugar factory is still good, but not as good as planned. Farmers can not harvest cane, difficult and high cost of transport, wet mud and cane sweetness level is also declining,” said Dahlan.

Eating, Dahlan says, red plate sugar financial statements have not been better than last year. “Growth slumped 30 percent,” he said.