JAKARTA (Yosefardi) – Shipping firm PT Arpeni Pratama Ocean Line Tbk (APOL) booked net profit of Rp130.79 billion in first half of 2016, against net loss of Rp268.78 billion in the corresponding period of 2015, due to lower cost.
However revenues dropped 34.9% to Rp238.92 billion from previous Rp367.08 billion. Service expenses also fell 39% to Rp211.96 billion from earlier Rp349.4 billion.
As a result, gross profit jumped 52.6% to Rp26.96 billion from Rp17.66 a previous year. Operating expense also declined 41.6% to Rp49.69 billion. Other operating income surged 545.58% to Rp195.03 billion.