JAKARTA: PT Krakatau Steel Tbk, state-controlled steel maker, booked a 6.55% revenue decrease in the first half of this year to IDR8.41 trillion.The domestic sales declined 7.94% to IDR7.44 trillion, whilst export sales decreased 0.26% to IDR223.73 billion. The revenue from engineering and construction sale fell 5.77% to IDR330.61 billion.However, the company's net profit rose 9.57% to IDR1.09 trillion. The gain on transfer of fixed assets amounting to IDR1.09 trillion lifted the company's net profit. In May, the company paid capital contribution in the form of 302,7 hectares land located in Kubangsari, Cilegon, valuing Rp1,191,349 for establishment PT Krakatau Posco. Upon such capital contribution, the company recognized a gain amounting to Rp1,090,297 or net of related final tax.The assets of Krakatau Steel as of June 30 rose 14.14% to IDR20.07 trillion.The KRAS-coded stock gained 0.92% or IDR10 to IDR1,100 as of 1.57 p.m. local time at the Jakarta Stock Exchange. (msw)

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