PT Citra Marga Nusaphala Persada Tbk (CMNP) posted a decrease in net profit for the year attributable to owners of the parent entity of around 40.93% to Rp448.12 billion in 2020 from Rp758.66 billion in the previous year.

Based on the financial reports published on Tuesday (25/5), the low net profit achievement was due to a 26.62% decrease in income to Rp2.58 trillion from Rp3.52 trillion.

Financial income also decreased by around 7.61% or from Rp142.16 billion to Rp131.33 billion. Finance costs increased by 2.22% to Rp380.28 billion from Rp372.01 billion.

However, the company managed to reduce the income expenses by 25% to Rp1.67 trillion from Rp2.23 trillion.

Meanwhile, CMNP's total assets until the period ended December 31, 2020, were recorded at Rp16.49 trillion, consisting of Rp9.80 trillion in equity and Rp6.68 trillion in liabilities.

CMNP recorded cash and cash equivalents at the end of the year at Rp3.76 trillion, an inc