JAKARTA. PT Ciputra Development Tbk (CTRA) is recalculating its revenue and net profit target this year, because the coronavirus outbreak has hampered the work on a number of projects.
Independent Director Tulus Santoso said the coronavirus outbreak had made it difficult for CTRA to meet its marketing sales target of Rp 6.7 trillion. During the first quarter of 2020, CTRA only recorded marketing sales of Rp 1.14 trillion, equivalent to 17.01% of its target.
In addition to disrupting marketing, the coronavirus has hampered the work on the company property projects. "The PSBB policy (large-scale social restrictions) will definitely slow down our project. But how big is the effect, we don't know yet, depending on how long the policy (PSBB) lasts," said Tulus. (AM/AR)