HOTL - PT. Saraswati Griya Lestari Tbk

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JAKARTA - PT Saraswati Griya Lestari Tbk (HOTL) posted a profit in the third quarter of 2019 amounting to Rp 2.76 billion, exceeding the performance in the same period last year, which lost as much as Rp 2.44 billion.

Quoted from the disclosure of company information, although HOTL's revenue was stable in the third quarter of 2019 compared to the same period last year, the management did efficiency in operating expenses and other expenses. This caused an improvement in earnings performance in the third quarter of this year.

HOTL recorded revenues of IDR 93.76 billion, up slightly from Rp 93.56 billion and gross profit of IDR 39.56 billion, down from Rp 56.39 billion. This was due to an increase in the cost of revenue from Rp 37.17 billion in the third quarter of 2018 to Rp 54.15 billion in the third quarter of 2019. However, HOTL's operating expenses were recorded at Rp 6.24 billion, down from Rp 19.68 billion due to the burden general and administrative administration of Rp 33.32 billion, down from Rp 36.70 billion. While other expenses were recorded at Rp 3.48 billion, down from Rp 22.13 billion.

In the third quarter of 2019, the largest composition of HOTL's revenue came from hotel room rents of Rp 61.61 billion, food and beverages totalling Rp 26.76 billion, and other departments Rp 5.32 billion. Whereas in the same period last year, hotel room rent contributed as much as Rp 61.11 billion, food and beverages Rp 27.56 billion, and other departments amounted to Rp 4.88 billion. (LK)