JAKARTA. PT Pembangunan Perumahan (Persero) Tbk. (PTPP) recorded a 38.06% decline in its net profit to Rp 930.32 billion in 2019, mainly caused by increasing financial burden.
The company's revenue in 2019 fell slightly by 1.83% to Rp24.65 trillion. However, the high cost of revenue (Rp 21.17 trillion), amortization expenses (Rp 200 billion and other expenses, caused the company's net profit to fall from Rp 1.5 trillion to Rp 930.32 billion.
With the decline in net profit, PTPP's earning per share also fell from Rp 242 to Rp 150. (AM/AR)