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Gajah Tunggal revives its financial situation in H1 2021

05 August 2021 10:59

JAKARTA – PT Gajah Tunggal Tbk (GJTL), a rubber tyre manufacturer, secures a current year net profit of USD 95,803 in the first half of 2021. It is a major improvement from the loss of USD 150,070 recorded in the same period last year. President Director of Gajah Tunggal, Sugeng Rahardjo, reveals this gain in the Financial Report H1 2021 published today (5/8).

It is further mentioned that the sales reach USD 7.26 million, increasing from USD 5.92 million. This growth results from the proliferating sales in the export to its relations. However, the primary contributor is still the third-party sales of USD 5.78 million, climbing from USD 4.84 million. Meanwhile, sales to related parties bring in USD 1.55 million, higher than USD 1.15 million last year.

Then, tyre products sales contribute USD 6.87 million. Tyre cords sales follow with USD 586,353, synthetic rubber USD 532,623, nylon cords USD 287,531, and other products sales USD 341,357. In the same period last year, the tyre products pitched in USD 5.78 million, tyre cords USD 440,067, synthetic rubber USD 338,777, nylon cords USD 131,187, and other products sales USD 140,392.

GJTL reports its gross profit climbing to USD 1.18 million from USD 1.03 million, while its earnings before tax finally reach USD 142,051 from the loss of USD 163,836 in H1 2020. This gain results from the shrinkage in losses of associates and joint ventures as well as a higher interest income. (LK/ZH)

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