Total Bangun Persada new contracts plunge almost 70% as of September
JAKARTA. PT Total Bangun Persada Tbk (TOTL) pocketed Rp 497 billion in new contracts as of mid-September 2020, down 68.93% from Rp 1.6 trillion in the same period in 2019.
However, the new contract value was almost within the minimum target revised by the company. Initially, the company had set a new contract target of Rp 3 trillion before later revising it to Rp 500 billion-3 trillion; accordingly, its revenue target has also been revised to Rp 1-2.3 trillion while its net profit target has been revised to Rp 50-175 billion.
According to TOTL Corporate Secretary Mahmilan Sugiyo Warsana, the company's Rp 497 billion contracts this year were significantly lower than Rp 1.6 trillion in the same period in 2019. (AM/MS)