JAKARTA (Yosefardi) – PT Steel Pipe Industry of Indonesia (Spindo) Tbk (ISSP) booked net profit of Rp138.19 billion in first half of this year, jumped 86% from Rp74.57 billion in the same period of last year.
Sales and revenues declined to Rp1.54 trillion from previous Rp1.58 trillion. But cost of goods sold also fell to Rp1.22 trillion from earlier Rp1.37 trillion. As a result, gross profit was Rp324.49 billion. Operating profit increased to Rp242.86 billion from Rp164.62 billion in first half of 2012.
Its assets totaled Rp3.46 trillion while liability amounted Rp1.73 trillion.