JAKARTA - PT Bayu Buana Tbk (BAYU) posted 15.1% revenue growth on an annual basis to Rp 2.40 trillion at the end of 2019. In the previous year, the company's revenue was recorded at Rp 2.08 trillion.
Based on BAYU's financial statements ended on December 31, 2019, the largest contribution to revenue came from the non-agency ticket segment which was recorded at Rp 1.66 trillion. Whereas in 2018, this segment recorded revenues of Rp 1.34 trillion.
Revenue from the tour segment edged down by 4.4% from Rp 501.49 billion in 2018 to Rp 479.19 billion in 2019. While contributions from the hotel segment increased from Rp 189.98 billion to Rp 207.98 at the end of 2019.
Along with the increase in revenue, BAYU's cost or revenues also rose to Rp 2.24 trillion with operating profit of Rp 59.75 billion. The company also managed to reduce its financial cost from Rp 1.07 billion to Rp 442 million. Thus, the company managed to record a net profit of Rp 47.73 billion, up 19.77% compared to 2018. (LM)