JAKARTA. PT Golden Energy Mines Tbk (GEMS), a trading and mining company under Sinarmas Group, recorded net profit of USD 316.9 billion in the first half (H1) of 2024.

Said number was 5% year-on-year (yoy) lower than the net profit recorded in H1 2023, in which the company managed to score USD 333.5 million of net profit.

GEMS’s profit decline in H1 2024 aligned with the company’s operating revenue that only reached USD 1.37 billion, or decreasing 5.3% yoy from the same period last year.

For the record, most of operating revenue of GEMS in H1 2024 was still generated by export, which recorded sales of USD 917.35 million. Meanwhile, domestic sales were seen at USD 449.85 million.

Meanwhile, based on business lines, coal mining contributed USD 1.35 billion to GEMS’s operating revenue. Meanwhile, coal trading brought in USD 20.06 million. (KR/ZH)