J Resources Asia (PSAB) Posts USD 177.89 Million Profit, Up 803%

PT J Resources Asia Pasifik Tbk (PSAB) posted an 803% surge in profit in the first half of 2026.

Based on its financial report published in an information disclosure on Tuesday (September 1, 2026), PSAB recorded net profit of USD 177.89 million in the first half of 2026, soaring 803% year-on-year (yoy) from USD 19.69 million in the same period last year.

The biggest factor behind the profit surge was a gain from the disposal of a subsidiary amounting to USD 298.60 million, a line item that did not appear at all in the same period last year. The one-off non-operating gain was the single largest contributor to the increase in the company’s profit before tax.

On the top line, the company recorded sales of USD 160.64 million, up around 14.5% yoy from USD 140.30 million in the first half of 2025.

Interestingly, cost of sales fell sharply from USD 52.31 million to just USD 18.95 million, sending gross profit up 61% to USD 141.69 million from USD 87.99 million previously.

On the other hand, several significant expenses weighed on the company’s results during the period, including amortization and write-offs, which jumped sharply to USD 105.57 million from just USD 7.54 million previously.

Impairment losses on fixed assets reached USD 59.58 million, far higher than USD 3.75 million a year earlier. Impairment losses on mining properties stood at USD 25.02 million, compared with none in the previous period.

General and administrative expenses rose to USD 46.43 million from USD 29.53 million, while losses from changes in the fair value of investments amounted to USD 6.73 million, reversing a modest gain of USD 6.82 thousand a year earlier.

Despite these substantial expenses, their impact remained far smaller than the divestment gain, allowing profit before tax to surge to USD 190.25 million from USD 37.79 million in the previous period.

PSAB also reported total assets of USD 636 million as of June 2026, down from USD 821.56 million at the end of December 2025. The company’s liabilities and equity stood at USD 201.35 million and USD 435.5 million, respectively.

Meanwhile, the company’s total cash and cash equivalents at the end of the period stood at USD 17.06 million, down from USD 39.44 million previously.

Source: https://investasi.kontan.co.id/news/j-resources-asia-psab-bukukan-laba-us-17789-juta-melonjak-803

Advertisement