JAKARTA - PT Astra Graphia Tbk's (ASGR) profit soared 45% to IDR 141 billion throughout 2023 from its profit in 2022 of IDR 97.07 billion. The increase in profit was driven by revenue growth and financial income.

In a press release quoted on Monday (26/2), Hendrix Pramana, President Director of PT Astra Graphia Tbk (ASGR) said that the company's revenue rose 2% to IDR 2.96 trillion from IDR 2.90 trillion and gross profit of IDR 641.74 billion, up 8.15% from IDR 593.34 billion.

"The increase in net profit was mainly from continuous cost improvement and optimization of operational costs. The company continues to innovate and digitize in every line of business to build a strong and sustainable business," he said.

Profit before tax was IDR 207.98 billion, up 60.88% from IDR 129.27 billion. The increase was driven by a decrease in general and administrative expenses, accompanied by a 59.84% increase in finance income and foreign exchange gains of IDR 4.33 billion from a previous foreign exchange loss of IDR 2.63 billion.

The services and rental segment contributed IDR 1.54 trillion, up from IDR 1.47 trillion, sales of goods recorded IDR 858.19 billion, down from IDR 952.51 billion, and project income IDR 559.44 billion, up from IDR 479.87 billion. (LK/LM)