Jakarta - PT Pelat Timah Nusantara Tbk (NIKL) managed to increase its net profit for the year in the first half of this year by around 126.76% to US$5.719 million from the same period last year of US$2.522 million.

The company's financial report released on Thursday (21/7), the surge in net profit was driven by sales growth of around 50.72% to US$ 136.688 million from US$ 90.623 million.

Unfortunately, the cost of goods sold swelled by around 48.81% to US$124,019 million from US$83,337 million.

In addition, NIKL's foreign exchange loss also jumped about 75% to US$1.421 million from US$812,574.

Until the first semester of 2022, NIKL's total assets were recorded at US$206.053 million, with liabilities of US$147,517 million and equity of US$58,536 million.

Meanwhile, cash and cash equivalents at the end of the period amounted to US$31,946 million.