Saraswanti Anugerah Makmur Tbk (SAMF), an NPK fertiliser manufacturer and distributor, booked net profit of IDR 216 billion in the first half of 2024, down 13% year-on-year (yoy) from the same period last year.
Said decrease is in line with SAMF’s net sales, which only reached IDR 2.41 trillion in H1 2024. They were 12% yoy lower than net sales in H1 2023 that clocked up to IDR 2.77 trillion.
Yahya Taufik, President Director of SAMF, acknowledged the decline of SAMF’s sales in this first half. “Said decline resulted from several factors, including the price of raw materials for fertilisers that have been normalised to the price level prior to COVID-19 pandemic,” he explained in the official statement.
In the second half of 2024, SAMF is committed to execute the order from the government to ensure production and distribution of fertilisers run optimally, through efficiency and capacity enhancement in several of its plants.
“Our commitment does not only lie on fertilsier production, but also out strategic role as a partner of agriculture industry of Indonesia,” Taufik claimed. (KR/ZH)