JAKARTA - PT PP Presisi Tbk (PPRE) posted a decrease in revenue due to delays in a number of projects due to the Large-Scale Social Restriction (PSBB) policy for the response to the COVID-19 pandemic. This was conveyed by Rully Noviandar, President Director of PT PP Presisi Tbk (PPRE) in a press release quoted on Monday (22/3).
He said that a number of ongoing projects were experiencing delays, even the work on new projects was delayed during last year's COVID-19 countermeasures. "The company's revenue was recorded at IDR 1.9 trillion, 30.1% lower than the 2019 revenue of IDR 3 trillion," he said.
The largest revenue contributor came from the construction segment, amounting to 89.7% and the rest came from the rental and ready mix segments.
According to him, the decline in revenue also affected profit performance, which was recorded at IDR 58.6 billion from IDR 331.3 billion in 2019. "This is also due to the decrease in other income to IDR 38.7 billion from IDR 61. 4 billion, as well as the increase in other expenses to IDR 292.7 billion from IDR 287.2 billion," he said. (LK/LM)