PT Aneka Tambang Tbk (ANTM) recorded a profit for the year attributable to parent company owners throughout 2020 amounting to Rp1.149 trillion or an increase of 492.72% compared to the previous year, which was only Rp193.851 billion.

Based on the financial reports published on Monday (15/3), the profit growth was supported by the low cost of goods sold of around 19.01% from the original Rp28.271 trillion to Rp22.896 trillion.

Also, operating expenses consisting of general and administrative costs, decreased by 6.69% to Rp1.91 trillion from Rp2.04 trillion, sales and marketing expenses decreased by around 62.98% to Rp533.07 billion from the original Rp1.44 trillion.

However, Antam must accept a decline in sales over the past year of around 16.34% to Rp27.372 trillion from the previous year's achievement of Rp32.718 trillion.

As of December 31, 2020, Antam's total assets reached Rp31.729 trillion, consisting of Rp12.69 trillion in liabilities and Rp19.04 trillion in equity.

Meanwhile, Antam's cash and cash equivalents at the end of 2020 were in the position of Rp3.98 trillion, up 9.64% from the previous year's Rp3.63 trillion.