JAKARTA. PT Amman Mineral Internasional Tbk (AMMN), a copper and gold mining company debuted in Indonesia Stock Exchange (IDX) circa mid-2023, booked net profit of USD 472.25 million in the first half of 2024.

The number showed 300% year-on-year (yoy) increase from net profit recorded in H1 2023, which only clocked up to USD 118.8 million. Even when being compared quarter to quarter, AMMN’s net profit in Q2 reportedly increased 268% from Q1 2024’s record.

AMMN’s rapid net profit growth rate in H1 2024 was supported by its net sales that amounted to USD 1.55 billion, or increasing 166.8% yoy.

Gold sales remain as primary contributor to AMMN’s net sales in H1 2024, with total sales f USD 779.02 million, whereas copper sales were reported at USD 769.6 million.

On top of its core business lines, AMMN also recorded gains from associated companies and joint ventures of USD 9.73 million in H1 2024. Furthermore, it also recorded other income worth USD 13.59 million.

It is worth mentioning that AMMN is a company listed under Basic Materials sector in IDX that has recently become a constituent of Indeks Tempo-IDNFinancials 52 (Indeks52) following an annual evaluation process, the result of which was announced last Friday (26/7).

In said index, AMMN places 3 out of 4 categories, namely Main Index, High Growth, and Big Market Cap.

Indeks52 is known as a list of reviewed stock and issuers’ performance, issued through a collaboration between Tempo Media and IDNFinancials. The Index consists of 84 constituents from issuers of numerous sectors and industries, with certain criteria evaluated periodically. (KR/ZH)