JAKARTA - PT Gowa Makassar Tourism Development Tbk (GMTD) posted Rp 40.75 billion revenue in the first quarter (Q1) of 2020, down 12.85% from Rp 46.76 billion in the same period last year. This was due to lower sales contribution from the housing and land segment.
According to a stock exchange filing published on Thursday (28/5), the residential housing and land segment contributed Rp 32.37 billion, down from Rp 41.51 billion in the same period in 2019. Revenue from the recreational segment contributed Rp 5.52 billion, up from Rp 5.25 billion, while the ready-to-build lot segment contributed Rp 2.86 billion.
In addition, GMTD also posted a Rp 2.31 billion current-year loss from Rp 7.97 billion in current-year profit last year. Its profit also dropped to Rp 1.78 billion due to higher operational cost and other expenses at Rp 19.71 billion and Rp 581 million respectively. (LK/MS)