PERFORMANCE 2018: Samindo Resources (MYOH) Profit Grows 151.3 Percent
Bisnis.com, JAKARTA - PT Samindo Resources Tbk. posted an annual profit growth of 151.3 percent on an annual basis in 2018.
Samindo Resources Investor Relations Manager Ahmad Zaki Natsir explained that the total consolidated revenue was recorded at US $ 241.1 million in 2018, up 28.2% on an annual basis. In terms of profitability, it claims all components recorded a positive increase.
"The main driver of the increase in corporate profitability is the efficiency campaign that has been promoted since the beginning of 2018. Management has encouraged all activities, especially operations, to be carried out effectively," he said in a press release received by Bisnis.com on Wednesday (03/20/2019).
In terms of non-operational costs, Ahmad explained that the company also made some efficiency. General and administrative expenses recorded a decrease of 8.9%.
"The management of the company always emphasizes to all corporate entities to always be professional and strive to always improve the capabilities of each individual in a sustainable manner, this has proven to be successful in boosting profitability throughout 2018," he explained.
In its press release, the issuer coded MYOH shares reported revenues of US $ 241.11 million in 2018. The realization was up 28.2% from US $ 188.07 million in 2017.
From there, the company was able to record gross profit of US $ 50.20 million in 2018. The achievement rose 83.2% from US $ 27.39 million in 2017.
Thus, MYOH posted a profit for the current year of US $ 30.92 million last year. This value grew 151.3% from US, 30 million in 2017.