Hoffmen Cleanindo Tbk (KING), a professional hygiene service provider, booked revenue of IDR 140.65 billion in the first half (H1) of 2024.
Sales growth seen in this period boosted KING’s net profit even higher to IDR 7.65 billion in H1 2024, compared to the same period last year, in which its net profit only reached IDR 787 million.
KING’s rapid profit growth in H1 2024 was supported with efficiency strategy, as seen in increased net profit margin at 5.43%. In the same period last year, its NPM was as low as 0.8%.
Cleaning service business line remained as the primary component of KING’s net revenue in H1 2024, generating IDR 108.24 billion. Service worker outsourcing line also contributed IDR 11.74 billion, followed by security service of IDR 9.18 billion, hygiene service of ID 6.93 billion, parking management service of IDR 2.7 billion, and parking equipment rental service of IDR 1.85 billion.
As of June 30, 2024, KING’s total assets were reported at IDR 152.97 billion, with cash and cash equivalent of IDR 13.4 billion. Meanwhile, total equity was seen at IDR 101.13 billion. (KR/ZH)