Jakarta - PT Gudang Garam Tbk (GGRM) announced a profit for the year attributable to owners of Rp5.605 trillion, a decrease of 26.70% in 2021 compared to the previous year of Rp7.647 trillion.

The company's financial report, released on Thursday (3/31), showed a low profit due to the high cost of goods sold by around 13.92%, to Rp110.608 trillion, from Rp97.089 trillion.

Operating profit also drained about 26.71%, to Rp7.361 trillion from Rp10.045 trillion. One of the reasons was the increase in other expenses by around 14.47% to Rp4,303 billion, even though GGRM managed to achieve a foreign exchange gain of Rp16,718 billion.

However, GGRM increased revenue by about 9.08%, to Rp124.881 trillion, from Rp114.477 trillion.

Until the period ending December 2021, GGRM's total assets were at Rp89.964 trillion, with liabilities of Rp30.676 trillion and equity of Rp59.288 trillion.

Meanwhile, GGRM recorded the position of cash and ca