PT Pan Brothers Tbk (PBRX) recorded sales growth of around 2.89% to US$684.89 million in 2020 compared to the previous year's US$665.04 million.

Based on the financial report published on Monday (17/5), despite moderate sales growth, the company was able to reduce the cost of goods sold, which only increased by 2.95 percent from US$578.66 million to US$593.69 million.

The company also succeeded in increasing its revenue from other revenues by around 122.47% to US$10.48 million from US$4.71 million. Financial expenses also did not change from the previous year or recorded at US$20.02 million by the end of 2020.

The company managed to record a 17.15% increase in profit for the year attributable to the owners of the parent entity, to US$23.71 million from US$20.23 million.

By the end of 2020, Pan Brothers' total assets were at US$693.12 million, an increase of around 5.27% from the previous year's US$658.39 million. These assets consi