JAKARTA. PT PP Properti Tbk (PPRO) is targeting revenues of Rp 3.1 trillion this year, up 21% from the 2018 net profit.
PPRO CEO Taufik Hidayat said the target will be supported by the company's capex of Rp 1 trillion. The capex will be used for land acquisition and to finance the construction PPRO's projects. "[The capex will be] Used to pay installments of land acquisition in the previous year, as well as to finance the construction of hotels and malls," said Mr Hidayat as quoted by Kontan.co.id, Friday (22/3).
In 2018 PPRO booked revenues of Rp 2.55 trillion, down 5.5% year on year (yoy). However, the company managed to earn a net profit of Rp 471.25 billion until late 2018. (KR/MS)