Sampoerna booked net profit US$242 million

Cigarette producer PT HM Sampoerna Tbk, a subsidiary of Philip Morris, booked net profit of US$242 million in 2005 or Rp2.383 trillion, increased significantly from Rp1.99 trillion in 2004.

According to its financial report published today, Sampoerna recorded Rp24.66 trillion sales last year or US$2.5 billion, jumped from Rp17.64 trillion in 2004.
As costs of goods sold also jumped from Rp11.84 trillion to Rp17.44 trillion, Sampoerna booked gross profit of Rp7.22 trillion last year against Rp5.8 trillion in 2004.
Operating expenses also grew from Rp2.6 trillion to Rp3.28 trillion, resulting in operating profit of Rp3.94 trillion in 2005 against Rp3.18 trillion in 2004.

Sampoerna has total assets of Rp11.93 trillion (US$1.21 billion) as of December 2005.

Amazing. The smokers gave so much for this company. The state got the most, I bet. The US$2.5 billion sales is net sales, most likely after the excise tax of 33 percent. The state got at least US$1.2 billion from tobacco excise, plus the corporate income tax of Rp1.28 trillion, plus dividend tax later on.

What about non-smokers?

READ MORE!!!