JAKARTA. PT Sepeda Bersama Indonesia Tbk (BIKE), a bicycle distributor that holds the Genio Bike and United Bike brands, posted a net profit of IDR 4.67 billion in the first semester (1H) 2024.

This net profit increased 18.8% year-on-year (yoy) or compared to the same quarter last year, which only reached IDR 3.93 billion.

According to the financial report just released, BIKE's net profit in 1H 2024 was supported by net sales performance which reached IDR 160.87 billion. Sales in this period fell 32.8% yoy or from IDR 239.33 billion in 1H 2023.

Bicycle products are still the main contributor to BIKE's net sales in 1H 2024, with total sales of IDR 148.83 billion. Meanwhile, sales of baby strollers were recorded at IDR 2.75 billion, and other sales IDR 9.29 billion.

As of June 30 2024, BIKE's total assets were recorded at IDR 262.22 billion, with cash and cash equivalents of IDR 23.3 million. Meanwhile, total equity was recorded at IDR 120.68 billion. (KR/LM)