JAKARTA. PT PP Properti Tbk (PPRO) lowered its 2019 revenue target to Rp 2.5 trillion, 60% lower than the target set by the company at the beginning of the year.
Taufik Hidayat, Director of PPRO, said that he was optimistic that investment in the property sector would increase again. The reason, said Hidayat, was that investors had chosen to delay their investments because of the Presidential Election. "After the presidential election, it relatively improved. And a number of investors returned to us. Because returns in Indonesia are better," Hidayat said on Monday (26/8).
Hidayat added that the revenue target would be achieved by increasing PPRO presales to Rp 3.7 trillion. If a number of its projects run smoothly, the company can generate Rp 476 billion in net profit or even more.
For information, the company's net profit in the first semester of 2019 has reached Rp 158.53 billion. This was supported by revenue from the real estate sales of Rp 804.11 billion and property income of Rp 70.72 billion. (KR/AR)