Eastparc Hotel Tbk (EAST), the 5-star hotel management company in Yogyakarta, only scored net profit of IDR 23.32 billion in the first half (H1) of 2024.
It dropped 9.7% year-on-year (yoy) from IDR 25.83 billion recorded in the first half (H1) of 2023.
According to the released financial report, EAST’s profit decline in H1 2024 resulted from downtrend in revenue that only reached IDR 72.57 billion, also slipped 3.7% yoy.
On the other hand, its operating expenses swelled 14% yoy to IDR 23.9 billion in H1 2024. Compared to last year, its operating expenses only reached IDR 20.9 billion.
Until June 30, 2024, EAST’s total assets were recorded at IDR 490.18 billion, with cash and cash equivalent of IDR 4.69 billion. Meanwhile, its total equity was reported at IDR 469.2 billion. (KR/ZH)