KONTAN.CO.ID - JAKARTA. PT Usaha Financing Reliance Indonesia or known as Reliance Finance (REFI) recorded profit growth of Rp 4.52 trillion, this figure rose 50.67% in the first semester of 2022 from previously only Rp 3.1 trillion at the end of 2021.

The increase in company profits seems to be supported by soaring revenues. Based on the financial report released on the Indonesia Stock Exchange, Wednesday (3/8), REFI's revenue grew 9.38% to Rp 35 trillion compared to closing in 2021 which was only around Rp 32 billion.

Despite the increase in revenue, it seems that Reliance Finance has not been able to suppress the rate of expenses which continues to increase by 5.21 percent to Rp. 29.46 trillion in June 2022. At the end of 2021, the company's expenses are still Rp. 28 trillion.

The most dominating growth in REFI expenses came from general and administrative expenses of Rp 12.7 trillion or contributed 43.11% in the first period of 2022. And at the end of last year it was only Rp. 8.7 trillion.

Followed by marketing expenses which reached Rp 124 billion in the first period of this year compared to December last year of Rp 75 billion.

It is known, at the beginning of the second semester of 2022, REFI's company assets also increased by 37.43 percent to Rp 663 trillion. The increase in assets is much greater than last year's close of only Rp 482.43 trillion.