Campina Ice Cream's Stellar Performance Drives 28.62% Surge in Profit in Q3 2022

Campina Ice Cream Industry Tbk (CAMP), the ice cream producer, reported strong financial performance in the third quarter of 2022. In the first nine months of the year, Campina's net profit soared by 28.62% compared to the same period last year.

Citing the company's financial report released on Monday (November 1st), Campina's net profit reached Rp104.69 billion. In the third quarter of 2021, CAMP's net profit was Rp81.40 billion.

This positive achievement in net profit (bottom line) is directly proportional to the growth in revenue (top line). Campina's sales reached Rp858.73 billion by the end of September, a 12.79% increase compared to Rp761.33 billion in the same period of 2021.

Concurrently, Campina's cost of goods sold increased from Rp336.72 billion to Rp377.05 billion. Most expenses increased. For example, selling expenses swelled from Rp135.22 billion in September 2021 to Rp150.12 billion in September 2022.

Administrative and general expenses also rose from Rp194.19 billion to Rp205.11 billion. Other expenses also increased from Rp1.27 billion to Rp2.36 billion.

Furthermore, Campina recorded total assets of Rp1.08 trillion. This figure is lower than the total assets as of December 31, 2021, which amounted to Rp1.14 trillion.