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PP Presisi first-quarter revenue slides 36.3%

24 June 2020 17:06

JAKARTA - Net revenue of PT Pembangunan Perumahan Presisi Tbk (PPRE) fell 36.3% in the first quarter of this year. Based on the company's financial statements that ended on March 31, 2020, PPRE's revenue was recorded at Rp 552.14 billion, down 36.3% from the achievements in the same period last year of Rp 867.26 billion.

Contributions from all segments decreased on an annual basis. Revenues from the construction segment were recorded at Rp 428.70 billion, down from Q1 2019 of Rp 692.59 billion. In addition, contributions from equipment rental and ready mix also dropped to Rp 74.11 billion and Rp 49.32 billion, respectively.

Along with the decline in revenue, PPRE’s cost of revenue also dropped from Rp 662.78 billion to Rp 443.76 billion. In this quarter, PPRE recorded other income of Rp 15.7 billion. Thus, PPRE managed to book a net profit of Rp 14.02 billion, down about 77% from the same period last year of Rp 110.41 billion. (LM)

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