JAKARTA - PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) recorded net profit growth of 556.19% in the first semester of 2024 from the same period in 2023. This realization reached 65.59% of the net profit in 2023 of US$20.27 million.

In the 2024 Semester I Financial Report quoted on Thursday (17/10), the issuer's net profit was recorded at US$13.30 million, a jump from the same period in 2023 of US$2.02 million. Profit growth is in line with the increase in income and maintains the expense to income ratio.

During the first semester of 2024, this issuer recorded revenue of US$216.47 million, up from US$166.90 million in the first semester of 2023. Meanwhile profit before tax rose to US$13.28 million from US$5.22 million.

Revenue contributors from Repair and Overhaul were recorded at US$167.68 million, up from US$130.82 million, Maintenance at US$38.31 million, up from US$26.15 million, and Other Operations up to US$10.47 million from US$9.93 million. (LK/LM)