JAKARTA . The revenue of PT Acset Indonusa Tbk (ACST) fell 69.48% from IDR 3.94 trillion to IDR 1.20 trillion due to the drop in construction service revenue by almost 75%.
Based on the financial statements as of December 2020, construction service revenues declined by 74.40% to IDR 844.43 billion. While in 2019, the revenue reached IDR 3.29 trillion. Likewise, construction services fell 39.25% to IDR 212.66 billion from IDR 350.06 billion in the previous year.
The drop in ACST's revenue was further suppressed by a 340.80% increase in sales expenses to IDR 631.45 billion compared to IDR 143.25 billion in the previous year. In line with the decline in income, the cost of revenue also fell to IDR 1.5 trillion [from IDR 4.04 trillion].
In the end, the company experienced a loss which increased to IDR 1.34 trillion compared to 2019 which amounted to IDR 1.13 trillion. (AM/LM)