JAKARTA – The performance of PT Pakuan (UANG) skyrocketed in the third quarter of 2022 compared to the same period last year following the high number of sales of land plots.
In its Financial Report of Q3 2022, Erick Wihardja, President Director of Pakuan, claimed that UANG’s revenue took a sharp upturn of 4,980%, soaring from IDR 7.19 billion to IDR 365.27 billion in September 2022. Similarly, its gross profit was 200 times higher, proliferating from IDR 1.01 billion to IDR 288.84 billion.
This massive surge in revenue in Q3 2022 was entirely attributed to the sales of land plots that generated IDR 365.27 billion, effectively covering for the golf, restaurant, and hotel segments that brought in zero revenue. Interestingly, in Q3 2021, the land plot sales were the segment that did not contribute a single penny to the revenue, while the golf, restaurant, and hotel segments turned in IDR 5.53 billion and IDR 1.65 billion of revenue.
Furthermore, its gross and net profit also thrived, arriving at IDR 230.93 billion and IDR 211.98 billion. For comparison, in the same period last year, UANG suffered from operating and current year’s losses of IDR 30.50 billion and IDR 62.35 billion, respectively. (LK/ZH)