Sinarmas group's cooking oil producer PT Sinar Mas Agro Resources and Technology Tbk has successfully recorded performance growth in 2020.

Based on the company's financial statements, in 2020, the company with the issuer code SMAR generated revenues of Rp40.43 trillion. The income was 11.7% higher than that in 2019 of Rp36.19 trillion.

Meanwhile, the sales consisted of sales of business integration segment of the consumer product and trading activities amounting to Rp35.83 trillion, the plantation segment amounting to Rp5.81 trillion, and other segments Rp2.93 trillion.

However, SMAR's revenue costs only increased by 7% to Rp34.55 trillion compared to 2019 of Rp32.28 trillion. Also, the company managed to record an increase in interest income of Rp21.07 billion and other revenue of Rp516.55 billion.

From that, SMAR booked a net profit attributable to the parent entity owners amounting to Rp1.53 trillion. The net profit skyrocketed 71.2% compared to the 2019 acquisition of Rp898.63 billion.

On the other hand, SMAR's total liabilities swelled to Rp22.5 trillion at the end of 2020, compared to Rp16.85 trillion at the end of 2019. The total liabilities consist of short-term liabilities of Rp14.35 trillion and long-term liabilities of Rp8.14 trillion.

Meanwhile, the company's total assets increased to Rp35.02 trillion in 2020 compared to the end of December 2019 of Rp27.78 trillion.

The total assets included the company's cash and cash equivalents as of the end of 2020, which rose 191.33% to Rp2.82 trillion compared to the position at the end of 2019 of Rp969.2 billion.