Investindo's Partner Revenue Skyrocketed 185 Percent In Semester I-2023

Money illustration (Photo: Doc. intermediate)

JAKARTA - PT Mitra Investindo Tbk (MITI) recorded a net income of IDR 166.99 billion in the first semester of 2023 or a growth of 185 percent compared to the same period in 2022.

Director of Operations and Commercial MITI Bambang Ediyanto stated that the company's net profit also increased by 391 percent to Rp31.61 billion compared to the previous year.

"Positive achievements during the first semester of 2023 with significant growth in net income and net profit, especially after the acquisition of street vendors and KAL in December 2022," he quoted Antara as saying.

In December 2022, he continued, the company expanded its asset portfolio by acquiring a 99 percent stake in PT Pelayaran Karana Line (PKL), which is engaged in shipping and ship agencies, as well as 70 percent of PT Karya Abdi Luhur (KAL) shares, which are engaged in loading and unloading services.

With this acquisition, MITI, which previously operated in the energy sector, has now transformed into one of the main drivers in the field of shipping services and total logistics, effective from December 2022.

Until the first half of 2023, according to Bambang, the company has expanded its business services to shipping services, ship agencies, ship management, and logistics, which are ready to develop and contribute to supporting Indonesia's economic growth.

"We are optimistic about MITI's projected net income consolidated of IDR 66.7 billion in 2023, and our management has confidence that MITI's consolidated net profit will continue to grow positively above national economic growth in 2024," he said.

Meanwhile, in June 2023, the company announced a dividend distribution for the 2022 financial year of IDR 1.5 per share with a total dividend of IDR 5,311,103,255 or equivalent to 34.6 percent of MITI's consolidated net profit.