JAKARTA – PT Lautan Luas Tbk (LTLS) reported a remarkable 120% year-on-year (yoy) increase in net profit attributable to the parent company, reaching IDR 183 billion as of September 2024.

According to LTLS's Q3 2024 financial report, this significant profit surge was driven by a 6.38% yoy rise in revenue, which reached IDR 5.73 trillion.

"Lautan Luas’s growth is rooted in a long-term strategy focused on diversifying and expanding its product portfolio to meet evolving market demands," said Joshua Chandraputra Asali, Managing Director of LTLS.

In the past two years, LTLS has ventured into new business sectors, and management acknowledged that these new lines have started contributing positively to the company's profits.

"Specifically, from the wholesale trade of other food and beverages, wholesale trade of eggs, and the wholesale trade of Hazardous and Toxic Materials (B3)," detailed Soewandhi, Director of LTLS, during the company's Public Exposé last week (10/16).

Operational efficiency has also been a key strategy for LTLS amidst global uncertainties, which has led to an increase in gross profit margins to 17.82% as of September 2024. (ZH)