JAKARTA. PT Sari Kreasi Boga Tbk (RAFI), the managing company of Kebab Turki Baba Rafi franchise, only managed to bag net profit of IDR 9.08 billion in the first half of 2024.

RAFI’s net profit in H1 2024 dropped 90% year-on-year (yoy) from the same period last year, in which the company’s net profit arrived high at IDR 102.03 billion.

According to the recently issued financial report, RAFI’s massive downturn in its net profit in H1 2024 resulted from its poor revenue performance that reached IDR 203.97 billion, or down 10.9% yoy.

In addition, RAFI also booked other income of IDR 89.21 billion in H1 2023, generated from revaluation of investment property, which unfortunately only took place at that period.

Until June 30, 2024, RAFI’s total assets were reported at IDR 470 billion, with cash and cash equivalent of IDR 7.84 billion, as well as total equity of IDR 360.59 billion. (KR/ZH)