Jakarta -  PT Salim Ivomas Pratama Tbk (SIMP) posted a surge in profit for the period attributable to owners in the first half of this year by around 101% to Rp441 billion, compared to the same period last year of only Rp219 billion.

The profit gain was boosted by the lower cost of goods sold by around 14.85%, to Rp5.872 trillion from Rp6.895 trillion.

Operating profit increased by about 17.64% to Rp1.327 trillion from Rp1.126 trillion.

SIMP Group's net leverage ratio was recorded at 0.31 times as of June this year, down from 0.35 times on December 31, 2021.

However, SIMP's sales weakened by around 10% to Rp8.07 trillion from Rp8.957 trillion due to lower sales volume of palm products and vegetable oil & fat (EOF) products, which were partially offset by higher average selling prices.

In the first semester of this year, core fresh fruit bunch (FFB) production fell 6% to Rp1.28 million tons, mainly due to unfavorable