JAKARTA (Yosefardi) – State construction firm PT Adhi Karya Tbk (ADHI) booked net profit of Rp60.54 billion in first half of this year, relatively flat compared to Rp68.69 billion in the same period of last year.
Revenues declined 4% to Rp3.19 trillion from previous Rp3.33 trillion. Its assets totaled Rp9.7 trillion while liability amounted Rp8.23 trillion. The company has cash and cash equivalent of Rp777.5 billion.
ADHI allocates Rp1 trillion for building 5 hotels in 2014-2015. Hotels would be new source for its recurring income. The hotel project will be funded by internal cash (30%) and bank loan (70%).
Meanwhile property developer PT Adhi Persada Property, subsidiary of ADHI, is now preparing mixed use project in Bekasi (West Java) with investment cost of Rp4 trillion.