The drop was the result of the high cost of goods sold which reached Rp28.89 trillion compared to Rp23.01 trillion in the third quarter of 2011, according to the company`s financial statement published on Tuesday.
"Sales costs rose 25.55 percent to Rp28.89 trillion," PT Gudang Garam President Director Susilo Wonowidjojo said.
Despite the drop in net profit due to high sales costs, operating income increased to Rp35.59 trillion from Rp30.56 trillion in the same period a year earlier.
The operating income consisted of Rp34.11 trillion from domestic sales and Rp1.48 trillion from exports.
Operating profit also fell in the third quarter of 2012 to Rp4.39 trillion from Rp5.24 trillion in the same period last year.
The company`s total assets in the year to September 30, 2012 reached Rp40.72 trillion, up from Rp39.08 trillion in the year ended December 31, 2011.
Until the end of September 2012, Gudang Garam was 69.29 percent owned by PT Suryaduta Investama, 6.26 percent by PT Suryamitra Kusuma, 0.38 percent by Juni Setiawati Wonowidjojo, 0.38 percent by Susilo Wonowidjojo and 23.53 percent by other parties.
(Uu.KR-IAZ/S012/A014)
Editor: Priyambodo RH
Copyright © ANTARA 2012
