JAKARTA - PT PP Presisi Tbk (PPRE) recorded revenue growth of 20% year on year (yoy) to Rp 1.6 trillion in the first semester of 2019. The company’s net profit in the period also grew 9.5% yoy to Rp 160 billion.
The revenue growth was driven by the completion of the taxiway connecting the third runway at the Soekarno-Hatta International Airport. In addition, other order books such as the said third runway, the Pandaan-Malang toll road, and the Manado-Bitung toll road have all surpassed 80% in progression.
PPRE CFO Benny Pidakso said the company’s positive performance in 1H was also accompanied by increased profitability. The company’s gross margin rose from 23.3% to 24.33% and operating margin from 20.9% to 22%, while its EBITDA margin grew from 28.6% to 33.9%.
“[The company’s performance] was in line with operational improvement through business excellence practises and the implementation of information technology such as SAP (systems, applications, and products) and the internet of things,” said Mr Pidakso in an official statement, Sunday (4/8). (MS)