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Tunas Ridean gains Rp 560 billion in profit

27 February 2019 12:23 PM  Company: PT. Tunas Ridean Tbk[TURI]
Rp. 1,125  0 (0%)

JAKARTA - PT Tunas Ridean Tbk (TURI) gained Rp 13.40 trillion in revenue in 2018, 4% higher than the company's revenue in 2017 (Rp 12.91 trillion). The increase in revenue was experienced by most of the company's business lines, except for car sales.

Rico Setiawan, President Director of PT Tunas Ridean Tbk (TURI) stated that the profit attributable to the company's shareholder was recorded at Rp 560 billion, 18% higher than its number in 2017 (Rp 475 billion). "The increase in profit was mainly due to the strengthening of all the company's business lines," he stated as cited from the press release.

The automotive business line contributed Rp 297 billion in 2018, 23% higher than its contribution in 2017. This was mainly due to the increase in the profit margin from the sale of cars and motorcycles. Car sales declined by 8% to 48,326 units, and motorcycle sales grew by 11% to 248,857 units. Rental business contributed Rp 65.6 billion, while associated companies contributed Rp 197.6 billion in 2018. (LK/AR)

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