JAKARTA. Despite the increases in several expenses, PT Bayan Resources Tbk (BYAN) manages to secure a 386.85% jump in its net profit to USD 337.04 million in the first half of 2021. This significant inclination coincides with the proliferating revenue.
Based on its financial statement published yesterday (4/8), BYAN’s revenue reached USD 1.02 billion, soaring 47.13% from USD 695.72 million. Coal sales to third parties dominate the revenue contribution by USD 948.12 million, followed by sales to related parties of USD 37.58 million. Meanwhile, the non-coals segment brings in USD 1.96 million to the revenue.
BYAN also succeeds in cutting back sales and revenue costs by 14.46%, from USD 505.011 million to USD 431.97 million. However, its selling expenses are 8% higher, now reaching USD 77.70 million, while its general and administrative expenses also climb from USD 14.25 million to USD 17.53 million. Additionally, its finance costs swell by 92.34%, from USD 17.32 million to USD 33.32 million, and its foreign exchange loss shifts to USD 1.41 million from USD 4.81 million of foreign currency exchange gains reported in the first half of 2020.
As of June 2021, BYAN’s assets are reported to reach USD 1.52 billion, comprising a liability of USD 583.37 million and equity of USD 945.4 million. (AM/ZH)