Consumer goods player Kino Indonesia (KINO) booked a net profit of Rp113.6 in 2020, dropping 78% from Rp515.6 billion in 2019 as the Company booked no gain on bargain purchase. In 2019, it recorded an Rp264 billion gain on bargain purchase, relating to the acquisition of 51% shares in PT Kino Food Indonesia (KFI) from Morinaga. KINO’s sales also fell 13% to Rp4 trillion from the previous Rp4.68 trillion. Gross profit declined 13.6% to Rp1.9 trillion.  

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