HM Sampoerna Leads Cigarette Manufacturers' Profit Gains

23/08/2016 10:56 WIB

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PT HM Sampoerna Tbk remains the most profitable of the four tobacco companies listed on the Indonesia Stock Exchange. In 2015, HM Sampoerna recorded a net profit of Rp 10.4 trillion, a 3.5 percent increase from Rp 10.1 trillion in 2014. Despite the issue of rising cigarette prices, three tobacco companies still managed to record profit growth. Only one issuer, PT Bentoel International Investama Tbk, experienced losses by the end of December 2015.

The increase in tobacco excise duties and the increasingly restricted public areas for smoking have forced cigarette producers to implement efficiency measures. Two major cigarette companies, PT Gudang Garam Tbk and HM Sampoerna, had to lay off employees to maintain business sustainability.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."