Investment and divestment profits boost PTPP’s net profit by over 300%
JAKARTA. The gains from investment and divestment of its associates allow the net profit of PT PP (Persero) Tbk (PTPP) to shoot up significantly by 306.6% to IDR 86.04 billion in the first half of 2021.
In the information disclosure in Indonesia Stock Exchange, this property developer also reveals a slight depletion in operating revenue. It shifts 4.3% from IDR 6.74 trillion to IDR 6.46 trillion.
Fortunately, PTPP manages to reduce its costs of sales from IDR 6.04 trillion in H1 2020 to IDR 5.66 trillion in H1 2021. Thus, it leads the company to score a gross profit of IDR 789.28 trillion, increasing 11.8% from IDR 705.7 trillion reported in the same period last year.
Throughout the first six months of 2021, the company secures gains from divestment and investment of its associates of IDR 119.14 billion. This amount is a great help for PTPP to be able to score such an impressive surge of 306.6% in its net profit, from IDR 21.16 billion to IDR 86.04 billion. (AM/ZH)