MBSS first half revenue up 10 percent

IDX-listed shipping and logistics company PT Mitrabahtera Segara Sejati Tbk (MBSS) said unaudited revenue in the first half period increased by 10 percent year on year to US$74.9 million. First half gross profit reached $30.7 million.

The company said in a statement obtained Wednesday that first semester revenue from barging grew by 2.1 percent, and revenue from floating crane jumped by 36.5 percent. The company added that cost efficiency was optimized by using own vessels, replacing those leased from third party, resulting in better gross margins of 41 percent during the semester, compared to 40.1 percent in the same period of last year.

The company said that first semester net profit increased by 7.1 percent to $19.5 million. President Director Rico Rustombi said that he was optimistic the company will continue to deliver positive growth performance in the second semester, but acknowledged that it would be quite challenging for next year given the weak global economic condition.

Editing by Reiner Simanjuntak