Acset first half net loss slides 37.6%
JAKARTA - The net loss of PT Acset Indonusa Tbk (ACST) fell 37.6% from Rp 404.43 billion in the first half of 2019 to Rp 252.20 billion in the same period in 2020.
The company's revenue decreased by 51.58% to Rp 748.74 billion in line with the slowing trend in the construction industry in general due to the COVID-19 pandemic. This slowdown resulted in delays in ongoing project work as well as bookkeeping of new contracts.
Based on the release received by IDNFinancials, contributions to Acset's revenue came from the infrastructure sector by 53%, construction by 31%, foundations by 11% and other sectors by 5%. Other sectors describe the trading activities carried out by subsidiaries.
Until the end of the year, Acset still has the potential to experience the effects of a slowdown in the construction industry as a result of the COVID-19 pandemic. However, internal improvement efforts that began to produce results in this period reflect the company's commitment to continuously improve its performance while continuing to prioritize the principle of prudence in every business step that Acset takes for the interests of all stakeholders. (LM)