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Waskita Beton cuts its new contract target by 32%

15 November 2019 15:04

JAKARTA. PT Waskita Beton Precast Tbk (WSBP) has cut its new contract acquisition target in 2019 by 32% to Rp 7 trillion.

Edbert Surya, an analyst from Mandiri Sekuritas, said the decline was caused by the delay in the number of contracts the company was working on.

In addition, WSBP also cut its revenue target by 18.3% to Rp 7.6 trillion and its net profit target by 32% to Rp 882 billion. It is lower than the figure predicted by Mandiri Sekuritas, which is Rp.8.7 trillion for revenue and Rp 1.1 trillion for net profit.

"We think WSBP will be able to achieve the revised target, because there are many toll road projects being worked on," Surya explained through an official statement on Friday (15/11) today.

For information, WSBP has the contracts for section II of Bogor-Ciawi-Sukabumi toll road (11.9 kilometres), section II of Krian-Legundi-Bunder toll road (13.5 km), and Cibitung-Cilincing toll road (34 km). (KR/AR)

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