Jakarta - PT Saraswanti Anugerah Makmur Tbk (SAMF) recorded sales growth throughout the first quarter of 2022 of around 182.92% to Rp839.49 billion compared to the same period the previous year of Rp296.72 billion.

SAMF President Director Yahya Taufik said sales had soared due to the high demand for fertilizer and an increase in the selling price of fertilizer.

"One of the factors causing the increase in the selling price of fertilizer is the increase in the price of fertilizer raw materials," Yahya said in a press release on Thursday (5/19).

Along with sales, profit before tax also increased by around 324% to Rp100.81 billion compared to the previous year of Rp23.76 billion.

"This achievement makes the company more optimistic that this year's performance will be much better than in previous years," he added.

Furthermore, Yahya also hopes that the conflict between Ukraine and Russia will end peacefully so that the supply of raw materials will return to normal.

As of the first quarter of 2022, SAMF recorded assets of Rp2.1 trillion with liabilities of Rp1.16 trillion and equity of Rp941 billion.