Media Nusantara Citra Record Increase Net Profit 6.85% in 2017

INDUSTRY.co.id - Jakarta - PT Media Nusantara Citra Tbk (MNCN) booked a net profit of Rp1.56 trillion in 2017, an increase of 6.85% compared to the actual profit in 2016 of Rp1.46 trillion. However, its revenue fell to Rp7.05 trillion from Rp8.7 trillion.

MNCN's profit growth in 2017 is due to the company's successful management of its operational cost efficiency program. It can be seen from the decrease in cost of goods sold in 2017 to stay Rp2, 6 trillion compared to the previous year amounting to Rp2, 8 trillion.

Therefore, according to MNCN's financial report published in Jakarta on Tuesday (03/04/2018), MNCN's gross profit increased to Rp4.3 trillion in 2017 compared to Rp3.8 trillion in 2016.

The company's profit before tax was recorded at Rp2.41 trillion in 2017 compared to the previous year of Rp2.1 trillion. Income tax expense increased to Rp848.1 billion from Rp809.9 billion.

As a result, MNCN's net profit grew 11.43% to Rp1.56 trillion in 2017 compared to Rp1.4 trillion in 2016. MNCN's total assets at the end of December 2017 stood at Rp15.05 trillion compared to the end of December 2016 of Rp14.2 trillion.

The total liabilities during this period were recorded at Rp5.2 trillion compared to the end of December 2016 of Rp4.7 trillion.

MNCN is a publicly listed BEI issuer that trades in general trading, development, industry, agriculture, transportation, printing, multimedia through satellite and other telecommunication equipment, services and investments.

MNCN's core business activities include content and ownership and operation of four national Free-To-Air TVs (RCTI, MNCTV, GlobalTV and SindoTV). About 60.75% of the company's shares are controlled by PT Global Mediacom Tbk (BMTR). (Abraham Sihombing)