JAKARTA. PT Budi Starch & Sweetener Tbk (BUDI) manages to secure an impressive current year profit growth of 229.23% in H1 2021, from IDR 15.68 billion to IDR 51.63 billion.
Quoting its financial report in the first half of 2021, this profit growth is anticipated as the company’s revenue soars by 50.13%. Local sales are still the main pillar of the sales, contributing IDR 1.30 trillion, while the export brings in IDR 433.85 billion.
On the other hand, BUDI’s costs of sales also climb rapidly to IDR 1.5 trillion, posting a 48.69% surge from IDR 1.01 trillion. Fortunately, its gross profit could rise as high as 60.49%, from IDR 141.76 billion to IDR 227.53 billion.
However, its operating expenses almost double in amount from IDR 54.3 billion to IDR 102.41 billion, experiencing an 88.59% growth. Thus, by the end of June 2021, BUDI’s current year profit finally arrives at IDR 51.63 billion. (AM/ZH)