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Gudang Garam Projected to Report Lower Earnings Due to Excise Hike
The projected profit earnings would not be the result of coronavirus in Indonesia, but because of a 35 percent increase in tobacco excise.
Editor Cantika Rustandi
“The growth was driven by excise earnings specifically the tobacco excise which increased 25.08 percent,” Suhasil said.
During that period, cigarette manufacturers made advanced orders for tobacco in anticipation of Indonesia’s large-scale social restrictions (PSBB).
The tobacco industry’s concern was that uneven implementation and duration of PSBB would disrupt cigarette distribution.
(Writer: Kiki Safitri | Editor: Bambang P. Jatmiko)
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