Not Gudang Garam and Sampoerna, This is the Cigarette Issuer that Records Profit Growth

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Reza Pahlevi 04/08/2022 13:40 WIB

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The annual increase in tobacco excise taxes impacts the operating margins of cigarette companies. However, Wismilak recorded a 30% year-on-year (yoy) growth in net profit in the first half of 2022.

Net Profit Growth of Cigarette Issuers (First Half of 2022)

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Not Gudang Garam and Sampoerna, This is the Cigarette Issuer that Records Profit Growth

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Net Profit Growth of Cigarette Issuers (First Half of 2022)

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The annual increase in excise duties on cigarettes has impacted the operating margins of tobacco companies. This has eroded their net profits despite increased sales.

This is the case for Gudang Garam and Sampoerna. These two tobacco companies experienced a decline in net profit despite increased revenue.

Gudang Garam recorded revenue of Rp61.67 trillion in the first half of 2022, up 1.8% year-on-year (yoy). However, the company's net profit plummeted by 59.3% (yoy) to Rp956.14 billion.

Meanwhile, Sampoerna recorded revenue growth of 12.3% (yoy) to Rp53.5 trillion. However, the company's net profit fell by 26.1% (yoy) to Rp3.05 trillion.

The only tobacco company to report profit growth was Wismilak Inti Makmur. Wismilak's revenue growth was accompanied by a 30.3% (yoy) increase in net profit to Rp82.16 billion.

Editor : Annissa Mutia

"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."

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Not Gudang Garam and Sampoerna, This is the Cigarette Issuer that Records Profit Growth

Not Gudang Garam and Sampoerna, This is the Cigarette Issuer that Records Profit Growth

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Not Gudang Garam and Sampoerna, This is the Cigarette Issuer that Records Profit Growth

Not Gudang Garam and Sampoerna, This is the Cigarette Issuer that Records Profit Growth

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