JAKARTA - PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ) booked net profit growth of 23.69% year-on-year (yoy) in the first half of 2024 compared to the same period in 2023. This profit growth aligns with revenue increase.

Based on Financial Report of H1 2024 quoted today (19/8), net sales reportedly grew 7.36% yoy to IDR 4.44 trillion from IDR 4.13 trillion seen in H1 2023.

Most of the sales were generated by beverages’ sales (including value-added tax/VAT) in the domestic market of IDR 4.89 trillion, up from IDR 4.54 trillion in H1 2023. Then, foods’ domestic sales brought in IDR 40.50 billion, down from IDR 44.76 billion.

Beverages’ exports then contributed IDR 6.54 billion in H1 2024, up from IDR 6.41 billion seen in H1 2023, while foods’ exports were cut nearly by half from IDR 3.12 billion to IDR 1.61 billion in H1 2024.

Gross profit of this dairy product manufacturer increased 11.54% to IDR 1.49 trillion from IDR 1.34 trillion, bringing the margin up to 33.68%, higher from 32.42% seen in H1 2023.

Operating profit also shifted up 22.21% yoy to IDR 933.71 billion from IDR 763.99 billion, driving current year’s net profit up 23.39% yoy to IDR 760 billion from IDR 615.90 billion.

Lastly, its net profit attributable to the parent entity also increased to IDR 755.13 billion from IDR 610.85 billion. (LK/ZH)