Cost Efficiency Bolsters 3Q19 Profits
The 3Q19 revenues stood at IDR5.6 trillion (+6.6% y-y,-3% q-q) to show contracted top line along with declining gross profits to IDr2.5 trillion. Meanwhile, GPM was at 45.8%, and the bottom line was at IDR657 billion (+11.7% y-y, -1% q-q). The top line, on a quarterly basis, was contracted, but EBIT showed growth as it contributed revenues of IDR878 billion with OPM of 15.5%. The declining 3Q19 opex to IDR1.7 trillion from IDR1.8 trillion in 2Q19 or a 6% q-q decline was attributable to growing EBIT. In addition, the 9M19 A&P expense, on a cumulative basis, dropped to IDR1.34 trillion from IDR1.39 trillion in 9M18 or a 3% q-q drop. KLBF cumulatively posted revenues of IDR16 trillion or a 7.3% y-y growth aligning with its targeted growth of 6%-8%.
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