JAKARTA. PT Mitra Angkasa Sejahtera Tbk (BAUT), a specialty retailer that provides various types of nuts and bolts for industry, recorded a net profit of IDR 5.14 billion in fiscal year 2023.

BAUT's net profit in 2023 was 20.46% lower than the previous year, in which the company was able to record a profit of up to IDR 6.46 billion. This decline is suspected to be due to the company's high operational and financial expenses.

In terms of top-line, BAUT's sales grew 6.83% year-on-year (yoy) to IDR 193.28 billion in 2023. In the previous year, the company's sales were recorded at IDR 180.92 billion.

Meanwhile, the company's cost of sales rose 4.9% to IDR 149.79 billion, selling expenses rose 42% to IDR 3.17 billion, general and administrative expenses rose 38.7% to IDR 32.18 billion, and financial expenses rose 7.5% to IDR 1.74 billion.

As of December 31, 2023, BAUT had total assets of IDR 256.62 billion. Meanwhile, its total equity was recorded at IDR 197.86 billion. (KR/LM)