JAKARTA. PT PP Presisi Tbk (PPRE) recorded profit growth of 70% in the first quarter (Q1) this year to Rp 101 billion, from Rp 59.6 billion recorded in the same quarter the previous year.
According to Benny Pidakso, Finance Director of PPRE, the growth was supported by the company's revenue in Q1, which reached Rp 867 billion, 39% higher than its revenue in Q1 2018 (Rp. 623.6 billion). "Most of the revenue or more than 80% comes from the construction segment. The rest is from equipment rental and ready mix," Pidakso said on Tuesday (30/4), through a written statement.
The total value of the contracts that are being worked on by PPRE is Rp. 12.8 trillion as of now. Rp. 1.61 trillion originated from the period of January to March 2019, and the remaining Rp. 11.2 trillion was from the contracts obtained in 2018. If viewed from a geographical perspective, the acquisition of contracts undertaken by the company is dominated by the Sumatra region.
The performance of PPRE in Q1 this year pushed its Earning Per Share (EPS) ratio to the optimal level. In addition, its net profit margin also increased from 9.55% in Q1 2018 to 11.65% in Q1 this year. "PPRE's EPS in 2019 is Rp. 60 per share," Pidakso explained. (KR/AR)