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Jakarta Post

Sampoerna’s net profits surge 20% amid ‘difficult’ times

  • Prima Wirayani

    The Jakarta Post

Jakarta   /   Tue, October 25 2016   /  09:29 am

Cigarette maker HM Sampoerna, Indonesia’s largest company by market value, saw net profits surging 20 percent to Rp 9.1 trillion (US$699 million) in the January to September period of this year from the same period a year ago despite a “difficult environment”.

The affiliate of Philip Morris International, one of the world’s largest tobacco firms, got its profit boost from a 7.3 percent increase in sales to Rp 70.3 trillion year-on-year (yoy), while net revenues, excluding excise, rose 5 percent to Rp 31.8 trillion.

A major boost to Sampoerna’s financial performance was skyrocketing financial revenues of Rp 631 billion in the nine-month period, from Rp 25.5 billion in the same period last year.

Costs increased by 6.6 percent to Rp 53.1 trillion.

“While the industry has recently faced a difficult environment, we are confident in our continued succes...