ADES estimates decline in revenue due to reduced operating hours
JAKARTA. PT Akasha Wira International Tbk (ADES) estimates that its revenue and net profit in the first semester of 2020 to be 25% lower than its record in the same period last year, due to reduced operating hours.
ADES management explained in its disclosure published on the Indonesia Stock Exchange's (IDX) website on Friday (17/7) explained that the contribution of revenue from operational activities to the company's total revenue reached around 25% -50%.
To maintain business continuity, the company expands its distribution network to new areas and improve existing distribution network. Management also seeks to reduce costs in all departments and strengthen the company's capital structure. (AM/AR)