STOCK MARKET - JAKARTA. PT HM Sampoerna Tbk (HMSP) posted revenue of Rp 106.74 trillion in 2018. This figure is up 8% from the same period in 2017 of Rp 99.09 trillion.
Information disclosure on the Indonesia Stock Exchange (IDX) on Thursday (21/3) said that growth in local sales supported the increase in revenue. Sales of machine-made kretek (SKM) rose 12% on an annual basis to Rp 74.29 trillion. Hand-rolled kretek (SKT) also rose 5% to Rp 20.60 trillion. Other product segments also rose 30% to Rp 530.07 billion.
Unfortunately, the machine white cigarettes segment (SPM) recorded a 10% decrease to Rp 10.90 trillion. The export sales contribution also dropped by 39% to Rp 408 billion at the end of 2018.
On the other hand, the increase in HMSP revenue was also followed by the cost of goods sold which grew 8.5% on an annual basis to Rp 81.25 trillion.
Nonetheless, the net income of one of the Kompas100 index constituents, still rose 7% on an annual basis to Rp 13.53 trillion at the end of 2018. The increase in net profit was supported by Sampoerna's financial income which rose 23% to Rp 1 trillion. Other revenue also rose 248% to Rp 208.09 billion.
HMSP's total assets increased by 8% to Rp 46.60 trillion. Cash and cash equivalents even rose by 107% to Rp 15.51 trillion at the end of 2018.
