JAKARTA - PT Fajar Surya Wisesa Tbk (FASW), a pulp and paper company, generated a profit of Rp 643.14 billion in the first half of 2019, up from Rp 439.39 billion in the same period in 2018. This was supported by lower costs and efficiency.
Based on the company's financial statements in the first half of 2019, Fajar Surya Wisesa generated net sales of Rp 4.33 trillion, down from Rp 4.67 trillion in the same period 2018. Gross profit was recorded at Rp 1.15 trillion, down from Rp 1.32 trillion while profit before tax was recorded at Rp 870.05 billion, higher than Rp 693 billion.
The increase in profit before tax was supported by an increase in foreign exchange profit of Rp 90.89 billion in the first semester of 2019. This was an improvement than the foreign exchange loss of Rp 258.24 billion in the same period in 2018, while comprehensive income was Rp.632.56 billion, up from Rp 407.28 billion.
The largest market composition was dominant in Indonesia, amounting to Rp 3.56 trillion, followed by other countries in Asia at Rp 760.88 billion, and East Africa at Rp 4.15 billion. Whereas in the first semester of 2018, Indonesian market sales contributed Rp 3.44 trillion, followed by other Asian countries at Rp 1.12 trillion, East Africa Rp 28.62 billion, Middle East Rp 69.81 billion, and others Rp 5.31 billion. (LK/MS)