PT Chandra Asri Petrochemical Tbk (TPIA) managed to make a net profit after tax in the first half of this year of US$ 165 million from a loss in the same period last year of US$ 40,124 million.

"This achievement is motivated by the market recovery, Chandra Asri's competitive advantage and solid execution in all aspects," said Director of TPIA, Suryandi, in a press release on Friday (30/7).

He added, in the six months of 2021, Chandra Asri also recorded a net income of US$1,262 billion, an increase of 50% versus US$839 million in the first half of 2020, as a result of the increase in the average selling price of all products, especially for Ethylene, Polyethylene, and Polypropylene while sales volume continues to sell out.

"Higher average selling price of US$1,146/T compared to US$775/T in 6M 2020. Polyethylene and Polypropylene prices rose to US$1,242/T and US$1,499/T from US$825/T and US$955 respectively /T. Meanwhile, the sales volu