JAKARTA - PT PP Presisi Tbk. has realized 39.27% of its capital expenditure (CapEx) budget for the purchase of heavy equipment.
According to Bambang Suyitno, Investor Relations at PP Presisi, the company has realized Rp 432 billion of CapEx (around 39.27% of its target for this year) during the period of January-July 2019. The CapEx budget of Rp 1.1 trillion will be used mainly for the purchase of heavy equipment (organic expansion).
Bambang said that the company also has inorganic expansion plans. According to him, the company is still exploring negotiations with companies engaging in soil improvement and foundation.
"For acquisitions, it is outside of organic CapEx, since they are related to negotiations," he added.
Based on the company's financial statements, during the first semester of 2019, PPRE-coded company generated Rp 1.59 trillion in revenue, 19.98% higher than the record from the same period last year of Rp 1.33 trillion.
The company's cost of revenue was recorded at Rp 1.21 trillion in the first semester of 2019, 18.53% higher than Rp 1.02 trillion recorded in the first semester of 2018.
As a result, PPRE recorded a gross profit of Rp 387.67 billion (from Rp 310.80 billion) and net profit of Rp 159.98 billion (from Rp 146.12 billion) in the first semester of 2019. (ARM/AR)