JAKARTA – The performance of PT Merdeka Gold Coppert Tbk (MDKA) skyrocketed in the first half (H1) of 2024 compared to the same period in 2023. The company finally managed to score profit due to this significant growth in revenue.

Based on Financial Report of H1 2024 quoted Friday (4/10), the revenue was recorded at USD 1.09 billion, soaring 110.19% year-on-year (yoy) from USD 520.03 million seen in H1 2023. The domestic market contributed 60.48% of total sales, while export reached 39.24%.

The third-users with contribution of over 10% to total revenue in H1 2024 included PT Indonesia Tsingshan Stainless Steel with USD 324.27 million, PT CNGR Ding Xing New Energy of USD 262.83 million, Precious Metal Global Market (HSBC) of USD 119.55 million, Eternal Tsingshan Group Limited of USD 117.83 million, and Trafigura Asia Trading Pte Ltd of USD 42,182.

Gross profit also grew 9.23% yoy to USD 88.70 billion from USD 46.13 billion, resulting in gross profit margin of 8.10%, down from the initial 8.87%.

Its operating profit soared even higher, by 23.71% yoy from USD 18.40 million to USD 62.17 billion. Meanwhile, the current year’s net profit reached USD 20.53 million, contrasting with loss of USD 54.91 million in H1 2023. (LK/ZH)