JAKARTA. The unsatisfactory performance in the first half of 2021 drives PT Wijaya Karya Tbk (WIKA) to revise down several targets of its business performance, particularly in terms of new contracts and its financial condition.
Ade Wahyu, Director of Wijaya Karya, confirms that his company would update its target as many accomplishments were not as attainable as once assumed during the conception of the 2021 Work Plan and Expenditure Budget. “Moreover, once the COVID-19 cases surge in the middle of the year, it disrupts the company’s operational activities,” he adds.
Wahyu claims that the revision would be made for the new contract target previously set to almost 100%. The new target might be reduced to 27% this year. The financial performance target would also be minimised. The revenue growth target would be reassigned to 20%-24% from the initial 7%, while the net profit growth would be readjusted to 20%-24% from 300%.
According to Wahyu, the target alteration is called for after seeing WIKA’s less promising performance in the first half of 2021, in which the revenue declines by 5.13%. (AM/ZH)