Paper producer Tjiwi Kimia (TKIM), controlled by Sinar Mas Group, booked a net profit of US$118 million in the first half (H1) of 2021, grew 32.6% year on year (y/y) due to a higher share on the net profit of associate, higher foreign exchange (forex) gain, and lower interest expense. Sales grew 16.4% y/y to US$524 million, and gross profit increased 27.6% to US$74 million. Its operating profit declined 11.5% to US$23.5 million.

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