Administrative Expenses Surge, PGUN's Profit Slashed 47% as of June 2026
Jakarta, CNBC Indonesia — The palm oil company owned by businessman Haji Isam, PT Pradiksi Gunatama Tbk (PGUN), recorded a net profit for the period up to the first half of 2026 of Rp44.51 billion. This figure represents a 46.72% plunge compared to the same period the previous year, which stood at Rp83.53 billion.
Citing a financial report submitted through the Indonesia Stock Exchange (BEI) information disclosure system, the company’s net sales up to June 2026 were recorded at Rp304.98 billion, a 20.82% drop compared to the first half of 2025, which reached Rp385.17 billion.
In line with the decline in revenue, the cost of goods sold also fell more sharply, by 33.22%, to Rp155.64 billion from the previous Rp233.08 billion. However, in nominal terms, gross profit still fell 1.81% to Rp149.3 billion, compared to Rp152.09 billion in the same period last year.
On the operational side, the company successfully reduced selling expenses to Rp6.53 billion, a decrease of 31.87% from Rp9.58 billion in the first half of 2025.
However, this efficiency was unable to offset the surge in general and administrative expenses, which skyrocketed to Rp80.11 billion, an increase of 362.84% compared to Rp17.31 billion in the same period the previous year.
On the other hand, the company recorded a gain on changes in the fair value of biological assets of Rp5.23 billion, a reversal from a loss position of Rp6.10 billion in the first half of 2025.
Despite this, the significant increase in operational expenses caused operating profit to still fall sharply by 42.96% to Rp67.93 billion, compared to Rp119.10 billion in the same period the previous year.
In the non-operational section, finance costs were successfully reduced to Rp12.95 billion, down 23.70% from Rp16.9 billion. Meanwhile, other income also experienced a decline of 53.94% to Rp2.22 billion, compared to Rp4.82 billion in the first half of 2025.
The combination of these two items resulted in profit before income tax being recorded at Rp57.20 billion, a decrease of 46.52% from Rp106.94 billion in the same period the previous year.
Regarding tax expense, current tax expense fell 13.19% to Rp21.86 billion from the previous Rp25.18 billion. Conversely, deferred tax benefits increased significantly to Rp9.17 billion, a surge of approximately 417.95% compared to Rp1.77 billion in the first half of 2025.
For other comprehensive income, the company still recorded another comprehensive loss of Rp429.73 million, an improvement of about 55.17% compared to a loss of Rp958.62 million in the first half of 2025.
This improvement resulted in total comprehensive income for the period reaching Rp44.08 billion, a decrease of 46.62% from Rp82.58 billion in the same period the previous year.
PGUN’s assets as of the first half of 2026 amounted to Rp2.42 trillion, a slight decrease from the year-end 2025 asset position of Rp2.52 trillion.