JAKARTA - Revenue of PT Blue Bird Tbk (BIRD) fell 39.8% on an annual basis to Rp 1.15 trillion at the end of the first half of this year. In the same period last year, BIRD's net revenue was recorded at Rp 1.91 trillion.
Based on Blue Bird's financial statements ending on June 30, 2020, the contribution of taxi vehicles was recorded at Rp 865.742 billion, down 43.09% from the same period last year of Rp 1.52 trillion. The decline also occurred in the vehicle rental segment from Rp 421.16 billion in 1H 2019 to Rp 295.13 billion in 1H 2020.
Along with declining revenues, the company's direct expenses also fell from Rp 1.38 trillion to Rp 946.27 billion. Thus, BIRD's gross profit at the end of the first semester of 2020 was recorded at Rp 205.08 billion.
After deducting other expenses, BIRD recorded a net loss of Rp 93.67 billion. This amount dropped dramatically compared to net profit in the same period last year of Rp 158.37 billion. (LM)