JAKARTA. PT Indo Boga Sukses Tbk (IBOS) booked net profit of IDR 4.84 billion in the first half (H1) of 2024, up 14.2% year-on-year (yoy) from the same period last year.

IBOS’s revenue in H1 2024 actually saw a downtrend, in which it reported 12.7% yoy decline to IDR 37.1 billion. In the same period last year, its revenue was recorded at IDR 42.5 billion.

Main contributors of IBOS’s revenue in H1 2024 were fish product sales that generated IDR 26.5 billion worth of income. Then, food and beverages segment brought in IDR 8.7 billion, followed by room rental of IDR 1.3 billion, and others of IDR 674 million.

IBOS’s net profit in H1 2024 was seemingly a positive result from its efficiency strategy, as indicated through decreased cost of revenue by up to 15% yoy. Furthermore, its general and administrative expenses also slipped 15.7% yoy.

Until June 30, 2024, IBOS’s total assets were recorded at IDR 379.5 billion, while total equity was reported at IDR 339.1 billion. (KR/ZH)