JAKARTA - The financial performance of PT Pikko Land Development Tbk (RODA) fell in the third quarter of 2018, which was affected by a decrease in sales revenue. Comprehensive profit decreased 97.85% to Rp 475.57 million from Rp 22.16 billion in the same period in 2017.
Based on the company's financial statements, revenues of Rp 173.73 billion decreased from Rp 246.05 billion in the same period in 2017. The decrease in revenue was caused by a decrease in office sales from Rp 91.17 billion to nil. Whereas Apartments and Asset Increases each booked Rp 168.10 billion and Rp 5.63 billion. In the same period last year, Apartment and Asset Enchancements contributed Rp 150.95 billion and Rp 3.93 billion respectively.
Net income was Rp 167.34 billion, down from Rp 239.15 billion. Gross profit was recorded at Rp 69.31 billion, down from the same period last year of Rp 126.99 billion. Operating profit was Rp 5.37 billion, down from Rp 50.47 billion. Pre-tax losses were recorded at Rp 12.54 billion, lower than Rp 10.41 billion. (LK)