State-owned pharmaceutical company PT Kimia Farma Tbk (KAEF) booked net profit of Rp267.4 billion last year, relatively flat compared to 2015 (Rp261 billion). The Company actually posted strong sales revenue growth of 22% to Rp5.8 trillion. Its gross profit also improved substantially by 21% to Rp1.86 trillion, but operating profit improved only by 13.3%, while financial charges surged by 66%. Combined with significant increase in tax expenses, KAEF then posted flat growth in net profit.To subscribe please click here