PT Barito Pacific Tbk (BRPT), parent company that is controlled by Indonesian businessman Prajogo Pangestu, recorded a 807.6% jump in net profit during the first half of this year.
Barito posted Rp226.4 billion net profit in 1H 2011 from Rp24.9 billion in 1H 2010. The steep jump was underpinned by profit before tax that rose 87.9% to Rp353.8 billion from Rp188.3 billion. Barito's revenue increased 13.9% to Rp10 trillion from Rp8.8 trillion.
Petrochemical unit contributed 99.5% of Barito's consolidated revenue, while the remaining was supported by forestry, plantation, and property.
"The achievement showed that our business remains robust, despite concern on the global economies jittery," said SVP Investor Relations Agustino Sudjono in a press statement today.
Disclosure: No position at the stock mentioned above.
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