Jakarta. Petrindo Jaya Kreasi (CUAN) recently announced that it had posted $51 million in operating profit in the first half of 2024, up by 3.78-fold compared to the same six-month period last year.

The rise in operating profit aligns with the company’s robust revenue growth and improved business scalability. CUAN is also increasingly more efficient as its operating expense-revenue ratio stands at 14 percent in the first half of 2024, versus 32.7 percent in the same period in 2023.

Petrindo also attributed its solid financial performance to its aggressive business expansion and acquisitions. The company's assets rose from $230 million in the end of 2023 to $1,157 million as of late June.

Share acquisitions in Multi Tambangjaya Utama (MUTU), Petrosea (PTRO), Borneo Bangun Banua (B3), and  Borneo Bangun Banua Bestari (B4) have also made significant contributions to the asset increase. Petrindo has included all these acquisitions in its financial statement as of June 30.

Petrindo Jaya Kreasi said that CUAN was optimistic that it could maintain this growth momentum. The company seeks to add value for all of its stakeholders through innovations and sustainable business development.