Jasa Marga revenue plunges 26% in first semester
JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) recorded a revenue plunge of 25.88% year on year (yoy) to Rp 13.83 trillion in the first semester of 2019.
Based on the company’s first semester financial statements, construction revenue which fell 37.42% yoy to Rp 8.68 trillion was the biggest contributor to the company’s revenue in the period at 62.69%, while the rest was contributed by toll and other business revenues which grew 7.74% yoy to Rp 5.15 trillion.
Jasa Marga’s construction expenses dropped 37.37% yoy to Rp 8.63 trillion, while toll and other business expenses slightly grew 5.15% to Rp 2.11 trillion. The slight increase upped the company’s gross profit by 7.64% yoy to Rp 3.10 trillion, and the net profit by 1.92% yoy to Rp 1.06 trillion.
As of late June 2019, the company’s asset value was recorded at Rp 89.67 trillion, up 8.8% from late December 2018, while total liabilities surged 9.8% from December 2018 to Rp 68.30 trillion. (MS)