JAKARTA - PT Wijaya Karya Bangunan Gedung Tbk (WEGE) posted a net profit increase of 4.8% year on year (yoy) to Rp 302.61 billion in the third quarter of 2019. However, the company’s net revenue in the period dropped 12.91% yoy to Rp 3.37 trillion.
Based on WEGE’s financial statements published on Tuesday (29/10), the construction services sector was the largest contributor to the company’s revenue at Rp 3.25 trillion, followed by property at Rp 72.80 billion, industry Rp 36.02 billion, and concession Rp 13.67 billion.
In addition, the company’s financial statements also show a drop in cost of goods sold to Rp 3 trillion, an increase in other incomes to Rp 40.72 billion, and an increase in joint venture profit to Rp 61.50 billion. The company also managed to lower other expense posts such as other expenses, operational expenses, and final tax expenses. (MS)