Laba Tower Bersama Grew 30% in the First Half of 2021

PT Tower Bersama Infrastructure Tbk (TBIG) reported a net profit of Rp 663.27 billion in the first half of 2021. This figure represents a 29.93% increase compared to the first half of 2020. Earnings per share also rose to Rp 31.79 per unit from Rp 24.47 per unit.

Revenue growth supported the profit growth of this telecommunications company, listed on the Indonesia Stock Exchange under the code TBIG, despite an increase in expenses. In its first-half 2021 financial report, TBIG recorded a 15.29% increase in revenue to Rp 2.97 trillion compared to the first half of 2020.

Meanwhile, cost of goods sold increased by 50.96% to Rp 729.09 billion in the first half of this year compared to the first half of the previous year. Similarly, operating expenses also rose by 0.93% to Rp 213.48 billion in the first six months of this year.

Other TBIG financial performance indicators show that assets grew by 14.55% to Rp 41.84 trillion during the January-June 2021 period compared to the same period the previous year. Equity, however, decreased by 0.93% to Rp 9.22 trillion, while liabilities increased by 19.85% to Rp 32.62 trillion.

The improvement in the company's financial performance during the first half of this year is reflected in its share price. TBIG's share price closed at Rp 3,120 on Monday, September 6, 2021. This represents a nearly twofold increase from Rp 1,605 at the end of 2020 (year-to-date/YTD).

Shareholders of TBIG include PT Wahana Anugerah Sejahtera (35.85%), PT Provident Capital Indonesia (23.28%), Winarto Kartono (2.28%), Edwin Soeryadjaya (0.33%), Hardi Wijaya Liong (1.33%), Budianto Purwahjo (0.02%).