JAKARTA. PT Modern Internasional Tbk (MDRN), the sole distributor of Fujifilm products in Indonesia, booked net profit of IDR 2.84 billion in the first half (H1) of 2024.

This is a total opposite from last year’s record, in which MDRN reported a loss of IDR 671.9 million.

According to the recently released financial report, MDRN’s net profit surge in H1 2024 partly resulted from its sales, which reached IDR 20.3 billion. Its sales, however, actually went down 19.4% year-on-year (yoy) from the same period last year.

However, MDRN implemented efficiency strategies on costs of sales, cutting it by up to 47% yoy to IDR 5.18 billion. Selling expenses also shrank 13.7% yoy to IDR 8.2 billion.

On the other hand, other operating income also soared significantly to IDR 4.3 billion in H1 2024 from only IDR 264 million in H1 2023.

Until June 30, 2024, MDRN’s total assets were at IDR 211.79 billion, with cash and cash equivalent of IDR 811 million. Meanwhile, its total equity was at minus IDR 302.1 billion. (KR/ZH)