JAKARTA - PT Soechi Lines Tbk (SOCI) recorded profit of USD 8.01 million in the first half of 2023, shifting 55.09% from USD 5.22 million seen in the same period last year. The gross profit margin, however, was recorded at 25.65%, lower than 32.51% seen in H1 2022.

The H1 2023 Financial Report quoted Friday (18/8) shows that SOCI’s profit surge was supported by 34.59% increase in revenue to USD 86.74 million from USD 65.93 million in H1 2022. Its gross profit also rose slightly from USD 21.44 million to USD 22.25 million, but the operating profit slightly slipped from USD 16.57 million to USD 16.34 million.

However, this issuer managed to cut down other expenses, thanks to significant gains on foreign exchange to USD 523,829 from the initial loss of USD 1.12 million. The profit before tax was recorded at USD 9.05 million, growing from USD 6.53 million.

The main contributor to SOCI’s revenue is third-party users, recorded in the charter segment of USD 62.07 million, which grew from USD 57.23 million. Meanwhile, in the spot segment, the revenue was multiplied from USD 6.48 million to USD 18.06 million, followed by the revenue from dock that proliferated from USD 1.78 million to USD 6.60 million. (LK/ZH)