AKRA books Rp586b net profit during H1
Tuesday, July 26 2016 - 10:43 AM WIB
The company said in a press release on Tuesday that strong sequential growth in profits with net profit of Rp 330 billion in second quarter of 2016, which is higher by 29 percent compared to Rp 255 billion reported in the first quarter.
Consolidated gross revenues during the first half of this year reached Rp 7,368 billion as compared to Rp 10,273 billion during the same period last year. The Company?s Sales and Revenues grew six percent to Rp 3,796 billion in second quarter of 2016 compared to Rp 3,572 billion during the first quarter of 2016. Consolidated revenues were impacted during the first half of this year due to the lower petroleum selling prices.
The Company reported that during the first half of this year it reached higher margins at 13,7 percent, gross margin of 13.7 percent, operating margin of 10.4 percent and net margin of 8.0 percent.
Consolidated revenue of the company during the first half of this year reached Rp 7,368 billion, comprising trading & distribution segment revenue at Rp 6,536 billion , manufacturing segment revenue at Rp 301 billion , Logistic segment revenue at Rp 360 billion and Industrial estate segment revenue at Rp 170 billion.
Trading & distribution segment revenues were lower due to low oil prices. But the oil prices have started to recover during the second quarter of this year, positively impacting sales revenues. Also sales of basic chemicals were slightly lower during the first half due to weak consumer industrial demand for basic raw materials compared to the same period last year.
The Company?s subsidiary PT BKMS which is developing the industrial estate in JIIPE has also reported land sales revenue of Rp 170 billion during the first half as compared to Rp 128 billion during the same period last year.
The company has reported an overall improvement in quarterly profits with gross profits growing 28 percent to Rp 567 billion during the second quarter of 2016 as compared to Rp 443 billlion during the first quarter, and operating profits growing at 35 percent to Rp 441 billion during the second quarter of 2016 from Rp 328 billion during the first quarter.
Editing by Benget Besalicto ST