Metropolitan Land recorded a 41.28% decline in profit
JAKARTA – The revenue and profit of PT Metropolitan Land Tbk (MTLA) went down in 2020 as a result of consumers’ awareness of their spending habits during the COVID-19 pandemic. The company’s profit only reached IDR 286.30 billion, decreasing 41.28% from the 2019 profit of IDR 487.62 billion.
In its 2020 Financial Report, quoted on Wednesday (7/4), Thomas Johannes Angfendy, MTLA President Director, revealed that the revenue was recorded at IDR 1.11 trillion, 20.88% lower than IDR 1.4 trillion in 2019. The gross profit and the earnings before tax also decreased to IDR 585.74 billion and IDR 286.44 billion from IDR 790.72 billion and IDR 490.46 billion in 2019.
The said report also showed that the sales decline occurred in almost every property products segment, including real estate, shopping centres, hotels, and others. The real estate sector contributed IDR 777.96 billion to the revenue, declining from IDT 905.74 billion in 2019. Then, the shopping centres added IDR 254.33 billion, lower than IDR 362.47 billion in 2019. The hotels added IDR 63 billion and went down from IDR 120.26 billion in 2019. Other products contributed IDR 25.12 billion, smaller than IDR 31.08 billion in 2019. (LK/ZH)