Net profit soared PTPP Doubles

jaysonhyd   May 9, 2016  

Housing Development Tbk PT or PTPP recorded net profit surge 2.2 times or to Rp 143.4 billion in the first half of this year compared to the same period in 2012 of Rp 64.8 billion.

The increase in earnings was driven by increased revenue also doubled to Rp 4.17 trillion. The increase was, among others, the contributions of some major projects such as EPC projects and plant PLTGU Tanjung kitbag Duri Riau, Kalibaru port, Kuala Namu Airport, Semarang toll road-Bawen, Donggi Senoro roads and building projects privately owned.

In addition, the subsidiary factory precast concrete industry has also begun to contribute revenue and profit.

“The contribution of income and profit from property business pillar is projected to increase significantly in the next five years”, said Managing Director PTPP, Bambang Triwibowo, in Jakarta, Thursday (01/08/2013).

As of June 2013, the company has bagged new contracts amounting to Rp 9.5 trillion, or 2.5 times over the same period in 2012. Large projects that were achieved, among others, the Port-Cilegon Krakatau Bandar Samudra, Nifaro Apartments, St Moritz, The Kencana and Cikampek Toll-palimanan.

In addition, there is also a toll road development projects Gempol-Pandaan, Tunjungan Surabaya Plaza V, Terminal 3 Soekarno Hatta airport, railway in South Sumatra PT KAI, Infrastructure Sarulla 300 MW power plant in North Sumatra, Banten and Intermark apartment project 120 MW Combined Cycle Power Plant EPC Tanjung kitbag, 160 MW power plant in Muara Tawar Bangkanai and CNG.

With the acquisition of this new contract the Order book as of June 2013 reached Rp 25.3 trillion. This year the company expects revenue of Rp 10.2 trillion and net profit of Rp 370 Billion which is contributed from the five areas of the business they work at the company’s Construction, Property, EPC, Investment and Production of Precast concrete.