JAKARTA. PT Dewi Shri Farmindo Tbk (DEWI), a broiler chicken farm company debuting on Indonesia Stock Exchange (IDX) in 2023, only reported net profit of IDR 1.57 billion in the first half (H1) of 2024.

This number is 32.6% year-on-year (yoy) decline compared to the same period last year, in which DEWI booked net profit of IDR 2.33 billion.

According to the recently released financial report, this profit slippage is in line with DEWI’s sales that only reached IDR 22.79 billion in H1 2024. DEWI’s sales in H1 2024 were cut 27% yoy from IDR 31.26 billion recorded in the same period last year.

Most of DEWI’s sales in H1 2024 came from carcass (bone-in chicken) sales, generating IDR 13.1 billion. The remainder was brought in by commercial broiler sales.

As of June 30, 2024, DEWI recorded total assets worth IDR 177.87 billion, with cash and cash equivalent of IDR 10.71 billion, while its total equity clocked up to IDR 152.87 billion. (KR/ZH)