HomeNewsVideos

PT Timah net profit hikes 20.65% in 1H

01 October 2019 06:08

JAKARTA - PT Timah Tbk (TINS) posted Rp 9.65 trillion in revenue in the first half of 2019, up 120.54% year on year (yoy) from Rp 4.37 trillion in 1H-2018.

Based on the company’s financial statements as of June 30, 2019, Timah’s operating revenue was driven by sales of tins and soldering iron that soared 127.73% from Rp 3.91 trillion to Rp 8.9 trillion.

In addition, Timah also recorded revenues from shipyard services at Rp 287.7 billion, tin chemicals Rp 195.84 billion, hospitals Rp 133.22 billion, nickel Rp 41.37 billion, real estate Rp 57.97 billion, and spare parts Rp 28.06 billion. Export sales were recorded at Rp 8.72 trillion while local sales amounted to Rp 182.95 billion.

The company’s cost of revenue also surged from Rp 3.7 trillion in 1H-2018 to Rp 8.83 trillion in 1H-2019, which brought its gross profit to grow 21.14% from Rp 674.84 billion to Rp 817.52 billion. In total, Timah’s recurring profit was recorded at Rp 205.37 billion in 1H-2019, up 20.7% yoy from Rp 170.14 billion. (AM/MS)

© 2024 - IDN Financials - All Rights Reserved.