State tin producer Timah (TINS) suffered a loss of Rp336.4 billion in 2020, narrowed from Rp607.4 billion loss in 2019, mainly helped by lower costs. Its revenue fell 21% year on year (y/y) to Rp15.2 trillion. Export sales fell 22.2% to Rp14.26 trillion. Gross profit, however, was maintained at Rp1.1 trillion as the cost of revenue also declined 22.2% y/y to Rp14.1 trillion.
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