JAKARTA - Despite the fact that PT Wika Bangunan Gedung Tbk's (WEGE) in 2019 was lower than in 2018, the company still managed to record profit growth, since the company managed to reduce its expenses.
As quoted from the company's financial statements published on Monday (9/3), WEGE managed to record Rp 4.56 trillion in revenue in 2019, lower than its record in 2018 of Rp 5.82 trillion. The company's gross profit also declined from Rp 596.75 billion in 2018 to Rp 465.178 billion, due to the increase in the company's cost of good sold.
Despite that, the company still recorded profit growth, from Rp 444.49 billion to Rp 456.36 billion, since the company managed to reduce its operating expenses from Rp 38.46 billion to Rp 1.79 billion.
In addition, WEGE managed to increase its total asset value from Rp 5.89 trillion to Rp 6.19 trillion. (LK/AR)