AKR H1 revenue up 25%
Wednesday, July 26 2017 - 01:57 AM WIB
IDX-listed PT AKR Corporindo Tbk, distributor of petroleum, basic chemicals and provider of logistic and supply chain services in Indonesia, reported a 25 percent increase in revenue in the first semester (H1) of this year to Rp 9.22 trillion, compared to Rp 7.27 trillion in the first-half of last year.
?Revenue rise was aided by higher petroleum selling price,? AKR said in a statement on Tuesday.
The company said net profit attributable to equity holders of parent entity in H1 2017 reached Rp 588 billion, a slight increase compared to Rp 586 billion in the corresponding period of last year.
The company said net profit for the second quarter (Q2) ended June 30 of this year rose by 28 percent to Rp 330 billion from Rp 258 billion in the first quarter.
Sequentially the gross profit and operating profit grew by 28 percent and 34 percent respectively in Q2 2017 compared to Q1 2017.
?We are pleased to report a good performance result for first half of 2017. The financial result for second quarter of 2017 improved compared to first quarter of 2017. The spur in demand of fuel and chemical during the second quarter this year has helped us to achieve the expected growth and we hope it will continue for the remaining part of the year,? said AKR President Director Haryanto Adikoesomo.
?A very good sign of increasing development at our industrial estate project could be seen from the contributions from the sale of land. As the utilities near completion the JIIPE project is poised for significant contributions to AKR in near future,? he added.
Editing by Reiner Simanjuntak