Jakarta - PT Paper Factory Tjiwi Kimia Tbk (TKIM) recorded an increase in net profit attributable to owners throughout 2021 by 67.86% to US$249.006 million when compared to the previous year's US$144,334 million.

The financial report released Monday (4/11) showed that the strengthening of net profit was boosted by net sales growth of around 18.24%, to US$1.024 billion, from US$866 million previously.

Along with the increase in net sales, the cost of goods sold increased by around 18.35%, from US$746.850 million to US$884.012 million.

Operating expenses also swelled by 14.49% to US$90.919 million from US$79.410 million.

However, net other income jumped about 84.42% to US$208.005 million from US$112.786 million.

Supporting this is the success of TKIM in gaining foreign exchange gains of US$14,320 million from a loss of US$4,214 million. Also, the high share of net income of associates increased by around 51.07% to US$220.726 millio