Falling Sales, Aneka Gas Industri's Net Profit Plunges 46.7%
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Industrial gas issuer, PT Aneka Gas Industri Tbk, experienced a slight decrease in sales in the first half of 2022. However, the company's net profit fell significantly.
The issuer, with the stock code AGII, recorded sales of Rp1.27 trillion in the first half of 2022. This represents a slight 2.3% year-on-year (yoy) decrease from Rp1.3 trillion.
After deducting the cost of goods sold, the company's gross profit was recorded at Rp574.95 billion. This gross profit decreased by 3.3% (yoy) from Rp594.6 billion.
The company also recorded a net profit of Rp50.6 billion. This net profit plummeted by 46.7% (yoy) from Rp94.9 billion.
AGII recently commenced operations at its gas plant in Bangka Belitung on Monday (August 22nd). This plant will be the main supplier of oxygen for the tin smelter owned by PT Timah (Persero) Tbk.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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