Soegiarto Adikoesoemo Conglomerate-Owned Company Earns IDR 17.25 Trillion In Revenue In The Third Quarter Of 2021
Illustration. (Photo: Doc. AKR Corporindo)

JAKARTA - PT AKR Corporindo Tbk recorded performance growth in the third quarter of 2021. The net profit of the company owned by conglomerate Soegiarto Adikoesoemo grew by 20 percent year on year (YoY) in the first nine months of this year.

The Java Integrated Industrial and Port Estate (JIIPE) Gresik Special Economic Zone (SEZ) is one of the pillars of the company's performance growth. Citing the company's official website, Wednesday, October 27, the issuer with the stock code of AKRA recorded a net profit attributable to the parent entity of IDR 797 billion in the third quarter of 2021.

The company's operating profit also recorded an increase of 18 percent YoY to the position of IDR 1.07 trillion. Meanwhile, consolidated revenue grew 24 percent YoY to IDR 17.25 trillion.

President Director of AKRA, Haryanto Adikoesoemo, explained that the company's performance growth was supported by the increase in sales volume and rising commodity prices. Sales volume of fuel oil (BBM) and basic chemicals has strengthened since the past few quarters with the recovery occurring in the company's main consumer.

"The company continues to maintain margins and control expenses, increase productivity, and keep net gearing at a low level", he explained.

Haryanto further said that the industrial estate sector recorded growth in its contribution to company revenues. This is in line with the positive developments experienced by AKRA in this sector, one of which is the Special Economic Zone (SEZ) Java Integrated Industrial and Port Estate (JIIPE) Gresik.

The son of Soegiarto Adikoesoemo said the SEZ of JIIPE Gresik has attracted a lot of attention from investors and has signed a smelter construction agreement with Freeport Indonesia.

"We are optimistic that we can maintain financial performance in the coming quarters. With JIIPE Gresik's status as an SEZ and President Joko Widodo's recent visit, JIIPE Gresik offers several tax breaks and ease of doing business which makes this SEZ attractive to investors", explained Haryanto.

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