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Armidian's profit slims, while its general expenses soars

16 August 2017 04:01 PM  Company: PT. Armidian Karyatama Tbk [ARMY]
Rp. 330  +24 (7.84%)

JAKARTA - PT Armidian Karyatama Tbk (ARMY), the property and real estate company booked the revenue noted Rp 41.65 billion during half year 2017. In the same period 2016, the company's revenue noted zero.

Based on the company's financial report during the first semester 2017, the largest contribution to the revenue came from the houses sales noted Rp 26.34 billion and followed by lands sales noted Rp 15.30 billion. While the company's cost of sales noted Rp 29.86 billion or approximately 71% of the revenue. The cost of sales was mainly contributed by the lands sales noted Rp 17.14 billion and followed by the houses sales noted Rp 12.40 billion.

Even though the company's gross profit noted Rp 11.76 billion or much better compared with the same period 2016, but the company's profit for the year was quite small or noted Rp 762 million. The factors that caused the slimming profit was driven by the general and administrative expenses which booked Rp 11.86 billion. In the same period 2016, the general and administrative expenses noted Rp 3,74 billion. (LK)