Jakarta - PT Multi Bintang Indonesia Tbk (MLBI) reported a 24.58% increase in net sales to Rp2.473 trillion in 2021, up from Rp1.985 trillion the previous year.

The company's financial report released on Friday (25/2), strengthening of the net sales boosted the increase in profit attributable to owners by about three times, to Rp665.682 billion, from Rp285.666 billion.

The company also narrowed the cost of goods sold by around 6.03%, to Rp1.111 trillion from Rp1.044 trillion.

In addition, the company managed to pocket a profit on recovering the value of trade receivables amounting to Rp26,391 billion, from the previous loss of around Rp62.605 billion.

At the same time, the company suffered a foreign exchange loss of Rp5.494 billion, compared to a profit of Rp4.406 billion the previous year.

As of the period ending December 2021, MLBI's total assets were at Rp2.922 trillion, with cash and cash equivalents of Rp638.197 billion.