JAKARTA. The efficiencies implemented by PT Timah Tbk (TINS) manage to bring its current profit to IDR 270.09 billion, contrasting with the loss reported in the same period last year of IDR 390.07 billion.
Through his statement, Wibisono, Director of Financial and Risk Management of TINS, claims that his company had continuously put efforts to improve its performance in the first half of the year.
Although TINS sees a decline in its operating revenue, from IDR 8.03 trillion in H1 2020 to IDR 5.87 trillion in H1 2021, it also sees a significant drop in its costs of revenue. The said decline reaches 50.35% year-on-year (yoy), from IDR 7.81 trillion to IDR 5.87 trillion. Then, financial expenses also shrink from IDR 388.03 billion in H1 2020 to IDR 192.64 billion in H1 2021. Thus, as a result, TINS manages to score IDR 270.09 billion in its current profit, reviving from a loss of IDR 390.07 billion in the same period last year.
Wibisono explains that the said achievements are results of subsidiaries’ performances that keep advancing. Thus, they are envisioned to help to reach objectives of performances until the end of 2021. (AM/ZH)