JAKARTA. Lower expenses has enabled PT Mitrabara Adiperdana Tbk (MBAP) to record net profit growth in the first half of 2020 to US$ 23.89 million (a growth of 42.79% YoY).
The company's financial report published on the Indonesia Stock Exchange (IDX) website, revealed that the company's sales were relatively stable from last year at US$ 128.12 million. Of the sales, 90.29% (US$ 115.68 million) of them were export to South Korea, China and the Philippines.
The coal mining company managed to reduce a number of expenses, namely cost of goods sold which declined by 6.12% to US$ 4 80.20 million and sales expenses (3.73% decline to US$ 14.68 million). (AM/AR)