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ASIA > Indonesia > Kediri

Gudang Garam’s net profits allegedly shrink 8.6 percent

August 11th, 2012 by Arief Priyono
Arief Priyono
Kediri, Indonesia, Asia
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Gudang Garams net profits allegedly shrink 86 percent
01/09
Caption
Traders show a number of PT Gudang Garam tobacco products in a traditional market in Kediri, East Java.
Gudang Garams net profits allegedly shrink 86 percent
02/09
Caption
Picture of a cigarette product of PT Gudang Garam at a traditional market in Kediri, East Java.
Gudang Garams net profits allegedly shrink 86 percent
03/09
Caption
Picture of some cigarette products of PT Gudang Garam at a traditional market in Kediri, East Java.
Gudang Garams net profits allegedly shrink 86 percent
04/09
Caption
Picture of some cigarette products PT Gudang Garam at a traditional market, in Kediri, East Java.
Gudang Garams net profits allegedly shrink 86 percent
05/09
Caption
Traders show a number of PT Gudang Garam tobacco products in a traditional market, in Kediri, East Java.
Gudang Garams net profits allegedly shrink 86 percent
06/09
Caption
Traders show a number of PT Gudang Garam tobacco products in a traditional market, in Kediri, East Java.
Gudang Garams net profits allegedly shrink 86 percent
07/09
Caption
Traders show a number of PT Gudang Garam tobacco products in a traditional market, in Kediri, East Java.
Gudang Garams net profits allegedly shrink 86 percent
08/09
Caption
Traders show a number of PT Gudang Garam tobacco products in a traditional market, in Kediri, East Java.
Gudang Garams net profits allegedly shrink 86 percent
09/09
Caption
Traders show a number of PT Gudang Garam tobacco products in a traditional market, in Kediri, East Java.
  • Gudang Garams net profits allegedly shrink 86 percent
  • Gudang Garams net profits allegedly shrink 86 percent
  • Gudang Garams net profits allegedly shrink 86 percent
  • Gudang Garams net profits allegedly shrink 86 percent
  • Gudang Garams net profits allegedly shrink 86 percent
  • Gudang Garams net profits allegedly shrink 86 percent
  • Gudang Garams net profits allegedly shrink 86 percent
  • Gudang Garams net profits allegedly shrink 86 percent
  • Gudang Garams net profits allegedly shrink 86 percent
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One of Indonesian largest cigarette producer PT Gudang Garam (GGRM), suffered an alleged 8.6 percent drop in net profits in the first six months of this year to Rp 2.12 trillion (US$222.6 million), due to the alleged soaring of costs of goods sold.

Gudang Garam booked Rp 23.5 trillion in revenues during the January-to-June period, a rise of 18.6 percent from Rp 19.84 trillion in the same period last year.

Gudang Garam’s COGS soared 26.17 percent to Rp19.01 trillion, leading to a decrease in net profits to Rp 2.12 trillion, versus Rp 2.32 trillion in the first half of 2011.

Submitted by
Arief Priyono
Kediri, Indonesia, Asia
+ More stories from Arief Priyono
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