JAKARTA. PT Jasa Armada Indonesia Tbk (IPCM) recorded a net profit of IDR 137 billion in 2021, proliferating 70% year-on-year (yoy) or compared to the same period in 2020.
Amri Yusuf, President Director of IPCM, mentioned that the said net profit surge was possible due to the fresh approach implemented by the company in order to expand its market. “It is though providing the best service for the existing and acquired market. Therefore, we managed to generate several new pipelines in 2021,” he explained in the press release.
The business strategy successfully drove IPCM’s revenue performance to positively shift 18% in 2021 to IDR 820 billion. In 2020, the company only scored IDR 697 billion in its revenue.
Most of IPCM’s revenue in 2021 originated from the towage service, contributing IDR 718 billion. Meanwhile, the pilotage service generated IDR 45 billion, followed by the ship management service of IDR 54 billion and other maritime services of IDR 2.5 billion.
In 2021, IPCM had installed four other units of tugboats with a power capacity of 2x2,200 HP. The company also added three pilot vessels of 2x300 HP. The acquisition of these vessels was intended to promote the company’s market expansion strategy.
IPCM’s total assets by the end of 2021 were seen growing 1.4% yoy to IDR 1.43 trillion. Meanwhile, its liabilities declined 14% yoy to IDR 271 billion. (KR/ZH)