Jakarta - PT Ristia Bintang Mahkotasejati Tbk (RMBA) reduced the current year's net loss attributable to owners by approximately double, to Rp23.55 billion in 2021, from Rp44.61 billion the previous year.

In the financial report released Wednesday (3/30), RMBA's ability to reduce losses was supported by an increase in net sales of around 75.92%, to Rp44.53 billion, from the previous Rp25.31 billion.

In line with the increase in net sales, the cost of goods sold increased by about 30.45% to Rp21.10 billion from Rp16.17 billion.

Net selling expenses decreased by around 21.31%, to Rp1.73 billion from Rp2.21 billion.

Thus, the company's operating loss has more than doubled to Rp15.48 billion from Rp35.23 billion.

The company also managed to get a significant increase in the share of net income of its associates, about five times, to Rp1.08 billion from Rp217.20 million.

Until the end of December 2021, RMBA's tot