Trading and distribution dominate FISH’s revenue
JAKARTA. The trading and distribution sector fueled the surge in the net profit of PT FKS Multi Agro Tbk (FISH) reported in the first half of 2021. It proliferated by 132.70% to USD 16.21 million from USD 6.96 million.
The massive upturn results from elevating FISH’s revenue to USD 574.95 million from USD 459.73 million reported in the first half of 2020. Thus, it increased by 25.06%, as stated in the company’s financial report by June 2021.
The trading and distribution segment provided the most extensive contribution to the revenue, bringing USD 564.33 million. Then, the manufacturing and logistic sectors followed behind with USD 2.40 million and USD 8.21 million.
Although the costs of revenue escalated by 24.15%, from USD 435.65 million to USD 540.88 million, the company balanced this out by reducing several expenses. These include cutting selling and distribution expenses as well as general and administrative expenses, with the total trimming reaching 31.29%. (AM/ZH)