Higher costs hit PGAS

State gas distributor Perusahan Gas Negara (PGAS) booked profit attributable to owners of US$145.3 million in the first half (H1) of 2023, fell 39% year on year (y/y), due higher costs. Revenues was flat at US$1.78 billion, while cost of revenues increased 7.7% y/y to US$1.4 billion. Operating profit declined 16.5% y/y to US$283.5 million.To subscribe please click here