JAKARTA - PT Provident Agro Tbk (PALM) continues its no-income financial record this year. In the financial statements as of June 30, 2022, the company's revenue and expense items are calculated to be nil.
This record is also a continuation of the company without income after in the first quarter of 2022 it was also in a similar condition.
One of the factors in the financial condition is the absence of recorded sales from three subsidiaries, namely PT Multimas Nabati Asahan, PT Wilmar Nabati Indonesia, and also PT Usaha Inti Padang.
Even so, in the financial report released Friday, July 15, the company's palm oil company from the Saratoga Group owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno still recorded other income of Rp. 104.3 billion.
As a result, the company still has a net profit of IDR 88.91 billion. However, this record decreased by 88.32 percent from the same period in 2021 at Rp.761.77 billion.
On the other hand, the company's assets also decreased. In the final period of 2021, the value is IDR 5.87 trillion, while until June 2022 it will be IDR 5.61 trillion.
Provident Agro's equity also fell from Rp5.83 trillion at the end of 2021 to Rp5.61 trillion.
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