Barito Pacific posts a stellar profit growth
JAKARTA – PT Barito Pacific Tbk (BRPT) scores a significant gain in the first half of 2021 compared to the same period last year. It is apparent in its 40.97% revenue growth and 1,641% profit growth. The skyrocketing profit is a result of the gains in foreign currency exchange, associates’ profits, and gains from derivative financial instruments.
In the Financial Report of H1 2021 published earlier today (6/8), Rudy Suparman, President Director of Barito Pacific, reveals the revenue that reaches USD 1.55 billion from the previous USD 1.10 billion. The revenue comes from the petrochemical export of USD 280.53 million and other incomes from the domestic market of USD 1.27 billion. Meanwhile, in H1 2020, the petrochemical export brought in USD 255.68 million, while the domestic sales added USD 848.21 million.
Furthermore, the gross profit is said to reach USD 496.27 million, also growing from USD 201.79 million. Meanwhile, its earnings before tax and current year profit clock up to USD 336.28 million and USD 237.83 million, respectively. These gains are possible due to the gains in foreign exchange of USD 1,870, associates and ventures’ profits of USD 9,979, and the gains from derivative financial instruments of USD 3,632.
In H1 2021, the domestic sales flow in from the energy and electrical resources of USD 115.95 million, energy lease USD 74,240, steam USD 50,979, financing lease USD 20.991, carbon credit USD 27, and others USD 33,990. (LK/ZH)