JAKARTA - PT Baramulti Suksessarana Tbk (BSSR) booked revenue increase, but the profit slipped down in the first half of 2023 compared to figures seen in H1 2022. The downgrade resulted from higher costs of sales, selling expenses, and administrative expenses.

Based on the Financial Report of H1 2023 quoted Wednesday (30/8), BSSR managed to post revenue of USD 593.65 million, shifting from the same period in 2022 of USD 425.88 million. The increased sales were mostly seen in third-party consumers, contributing USD 548.61 million, followed by several other related parties, including Tata International Singapore Pte Ltd, Brooklyn Enterprise Pte Ltd, Tata International West Asia DMCC, and PT Hasil Bumi Kalimantan.

The gross profit was recorded at USD 218.61 million, still improving from USD 209.34 million seen in H1 2022, even though the cost of revenue that inflated to USD 375.04 million from USD 215.94 million.

However, the operating profit shrank to USD 137.44 million, declining from USD 165.45 million, as selling expenses increased from USD 43.50 million to USD 73.10 million. As a result, it recorded current year’s profit of USD 106.36 million, decreasing from USD 128.37 million. (LK/ZH)