JAKARTA: PT Trihamas Finance net profit fell 30.52% to IDR70.37 billion during 2011 from IDR201.29 billion a year earlier.
Based on company financial statement published today, Wednesday, April 25, 2012, the decline in profit was influenced by the increase in expenses which higher than revenue.
The expenses of the company focusing used four wheeled vehicles financing segment reached IDR425.81 billion in 2011, up 31.62% from IDR323.50 billion in 2010.
Financial expenses contributed IDR232.56 billion, up 18.05% from IDR196.99 billion while general and administration expenses increased by 58.47% to IDR176.57 billion from IDR111.42 billion.
Trihamas Finance revenue reached IDR518.60 billion, up 13.21% from IDR458.14 billion a year earlier.
Last year, the company posted channeling amounted to IDR1.87 trillion, stagnant compared to the previous year amounted to IDR1.9 trillion.
Trihamas Finance is a multi-finance company focused on financing commercial four-wheeled vehicles (minibuses, pickups, trucks), public transportation (public transportation, microbus), and private cars since 1994.
Commercial four-wheeled vehicles financing dominate by 55%, 35% from public transport and 10% from private cars. The Islamic business units channels commercial and public transport four-wheeled vehicles.
The total assets of the company led by Ronny Effendy were IDR2.33 trillion per December 2011. (T07/aph)