JAKARTA (Yosefardi) – PT Sorini Agro Asia Corporindo Tbk (SQBI) booked net profit of Rp52.2 billion for first half (H1) of 2016 (ending May), dropped 64% from Rp145.34 billion in the corresponding period of 2015.
Revenues declined 4% to Rp2.41 trillion from previous Rp2.5 trillion. Operating profit fell 42.8% to Rp123.8 billion from earlier Rp215.07 billion.
SQBI’s export declined 8.5% to Rp961 billion, from Rp1.05 trillion in H1/15 period. Sales to Mitsubishi Shoji Foodtech Co Ltd (related party) reached Rp277.8 billion and sales to PT SPK amounted Rp261.59 billion.