JAKARTA – PT Midi Utama Indonesia Tbk (MIDI) recorded a profit growth of IDR 546.4 billion throughout 2024, up by 5.75% year-on-year (YoY) compared to IDR 516.65 billion in 2023.

According to the financial report on Friday (21/3), the profit increase was driven by the company’s net revenue growth, which reached IDR 19.88 trillion, an increase of 14.62% from IDR 17.35 trillion in 2023.

Several segments contributed to the revenue growth, including: the food segment, which recorded IDR 11.66 trillion, an 11.69% increase from IDR 10.44 trillion in 2023. The fresh food segment, which rose to IDR 2.96 trillion. The non-food segment, which grew to IDR 5.25 trillion from IDR 4.48 trillion in 2023.

Alongside the growth in profit and revenue, MIDI’s cost of goods sold also increased by 14.10%, from IDR 12.84 trillion to IDR 14.65 trillion in 2024. Additionally, MIDI's total assets in 2024 reached IDR 8.73 trillion, higher than IDR 7.78 trillion in the previous year. (DK/LM)