SRTG Net Profit Decline 46.8%

SRTG Net Profit Decline 46.8%

Saratoga Investama Sedaya Tbk (SRTG) posted net profit amounting to IDR 2.59 trillion in the first half of 2017, down 46.8 percent from IDR 4.87 trillion year-on-year (YOY). The decrease in net profit was due to decline in net profit on investment in stock securities by 55.6 percent to IDR 2.03 trillion.

Michael WP Soeryadjaya, President Director of SRTG, said that the company will encourage business development from investment companies that their contribution continues to increase. In the first half of 2017, dividend income grew 61 percent to IDR 371 billion over the same period last year. Dividends are contributed by
Tower Bersama Infrastructure Tbk (TBIG) amounting to IDR 220 billion, Adaro Energy Tbk (ADRO) amounting to IDR 90 billion, and Mitra Pinasthika Mustika Tbk (MPMX) amounting to IDR 54 billion.

“Higher stock price also contributed IDR 2 trillion for unrealized revenue,” said Michael. The total assets currently reach IDR 27 trillion.

In the first quarter of 2017, the company divested its stake in Lintas Marga Sedaya (LMS), a toll road operator managing the Cikopo-Palimanan toll road, to Astratel Nusantara. In March 2017, the company acquired Deltomed Laboratories through its subsidiary, Saratoga Sentra Business.

Jerry Ngo, Director of Finance at SRTG, said Deltomed has added the company’s portfolio. “Our focus is to continue building a diversified and balanced portfolio through new investment cycles, divestments, and growth of the existing companies,” said Jerry.

In 2016, Saratoga also increased investment in consumer-related infrastructure sectors, including cold-chain logistics and hospital management business groups. “We believe that these sectors play an important role in Indonesia as the economy and population is growing. We are excited to take role in this growth and support
the expansion of the Indonesian economy,” said Michael. (*)

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