PT ABM Investama Tbk (ABMM) recorded profit for the year attributable to owners of the parent entity of US$ 106.03 million in the first quarter of 2023, flying 233.55% from US$ 31.78 million in the same period last year. Basic earnings per share also jumped from US$ 0.01155 in the first quarter of 2022 to US$ 0.3851 as of the end of March this year.

The financial report for the first quarter of 2023 revealed that the surge in net profit was supported by an increase in revenue from contracts with customers from US$ 286.7 million to US$ 387.86 million. Meanwhile, cost of revenue also rose to US$ 257.91 million from the previous US$ 185.62 million. Meanwhile, gross profit also increased from US$ 101.07 million to US$ 129.94 million. ABM Investama recorded selling, general and administrative expenses of US$ 26.98 million; other income US$ 4.11 million; domestic market obligation of US$ 7.84 million; and other expenses of US$ 2.70 million. Operating profit increased from US$ 81.24 million to US$ 96.53 million.

Profit before income tax in the first quarter of 2023 was US$ 137.26 million. Meanwhile, profit for the current period was US$ 119.96 million, which shot up from US$ 52.7 million in the first quarter of 2022. The company recorded total assets of US$ 2.14 billion as of March 31 2023, up from US$ 1.98 billion at the end of December last year. Liabilities increased from US$ 1.36 billion to US$ 1.41 billion.

Source: https://investor.id/market/328442/abm-investama-abmm-laba-bersihnya-terbang-233