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Blue Bird net profit slips 16.84% in 1H

01 August 2019 14:10

JAKARTA - PT Blue Bird Tbk (BIRD) recorded a net profit drop of 16.84% year on year (yoy) to Rp 158.37 billion in the first semester of 2019.

Based on the company's financial report in 1H, the profit drp was due to an increase in operating expenses by 15.53% yoy to Rp 331.09 billion in the period.

The increase in operating expenses was due to general and administrative expenses which grew 15.97% yoy to Rp 310.75 billion. In addition, marketing sales expenses also rose 9.31% yoy to Rp 20.33 billion.

Blue Bird's revenue also recorded a slight decline of 2.89% to Rp 1.91 trillion. However, revenue from non-taxi vehicles rose 7.6% to Rp 421.16 billion. (MS)

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