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PP Properti Marketing Sales IDR820Bn

By administrator | July 26, 2019 | Property Real Estate.
PP Properti Marketing Sales IDR820Bn

PP Properti Marketing Sales IDR820Bn

PP Properti Marketing Sales IDR820Bn. Along the 1H19, PP Properti, Tbk (PPRO) claimed a new pocket income of about 40% of the target of IDR2.3Trn which was posted this year. The realization of marketing sales is still in the range of 30% or IDR820Bn of the target valued at IDR4.17Trn for 2019. The first semester was quite difficult because the presidential elections and Ied Fitr made some parties hold the sale. The impact is very influential, said the Finance Director of PPRO, Indaryanto on Thursday (25/7).

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He said, in the second semester it will focus on continuing the construction of several projects such as three apartments in Cibubur, Surabaya, and Kertajati that were estimated worth a total of IDR1.2Trn. In addition, the construction of the residential area in Semarang, Amarta View, covering an area of 14 Ha, is claimed to contribute revenues of more than 80% on 1Q19.

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Not only that, PPRO also focuses on building two hotels in Mandalika and Lombok to welcome the upcoming MotoGP 2021 title. While capex absorption is also still in the range of 30%-35% of the value of IDR1.2Trn. The funds were allocated to develop the project on the already prepared landbank covering an area of 300 ha. PPRO also uses capex to pay the carry over land to continue the development of projects and investments in subsidiaries.

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PPRO experienced a decrease in net profit performance of 45% IDR42.1Bn from the number of IDR95.3Bn on 1Q19. Performance of revenues declined from IDR642.2Bn to IDR428.8Bn. In addition, PPRO is targeting a 17% increase in revenue, 18% net profit and 20% marketing sales this year. The next challenge may be the election in 2020. However, the most important thing is the optimum continuing project in the remaining semester 2019, concluded Indaryanto.

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