JAKARTA. PT PP (Persero) Tbk (PTPP) recorded new contracts of IDR 16.5 trillion until September 2022, increasing 4.3% from the previous month’s number of IDR 15.7 trillion.
Bakhtiyar Effendi, Corporate Secretary of PTPP, claimed that most of these new contracts came from the infrastructure industry. Then, the building and engineering procurement services, as well as the construction business followed closely. It is worth mentioning that the contracts secured from the government are equal to 30% of the total contracts, while contracts from state-owned enterprise made up 65% of them, leaving the remaining 5% to the private sector.
Novel Arsyad, President Director of PTPP, initially aimed for the revenue to reach IDR 21.4 trillion by the end of 2022. Ideally, 60% of the revenue was generated by PTPP, while subsidiaries covered the remaining portion.
“Meanwhile, our net profit target is set to IDR 429 billion, which will be supported by both new contracts and carry-over projects,” Effendi mentioned, as quoted by Investor Daily.
Based on idnfinancials.com data, PTPP managed to collect revenue of IDR 9.02 trillion at the end of the first semester of 2022. Meanwhile, the company’s net profit amounted to IDR 112 billion. The increases in revenue and net profit of the company in this first half of 2022 reportedly clocked up to 39.74% and 1.82% year-on-year (yoy), respectively. (KR/ZH)