Jakarta - PT Sri Rejeki Isman Tbk (SRIL) throughout 2021 posted a loss for the year attributable to owners of US$886.12 million, a decrease from US$49.83 million in the same period the previous year.

The financial report released Tuesday (3/15) said this loss was triggered by the high cost of goods sold by around 45.59%, to US$724.32 million, from US$497.49 million.

Net sales also fell about 13.48% to US$526.21 million from US$608.23 million. Selling expenses also more than doubled to US$16.67 million from US$7.82 million.

SRIL also had to accept an allowance for impairment losses on receivables and an allowance for impairment losses on inventories of US$153.49 million and US$459.50 million, respectively.

Financial income also nearly doubled to US$421,913 from US$735,848. Finance expenses increased by about 38.84% to US$42.126 million from US$30.340 million.

Nevertheless, SRIL was still able to gain a foreign exchange gain of US$2.13