JAKARTA (Yosefardi) – State construction firm PT Pembangunan Perumahan Tbk (PTPP) booked net profit of Rp290.17 billion in first nine months of 2014, grew by 33% from Rp218.35 billion in the corresponding period of 2013.
The company is optimistic to achieve its profit target for this year of Rp520 billion. It targets to book new contracts of Rp22 trillion for this year. The company engages in construction, property, EPC, printing, and investment.
For boosting revenue, PTPP has taken some actions such as acquiring PT PP Dirganeka, spinoff property division into PT PP Property which will launch IPO early next year, acquiring PT Prima Jasa Aldodua (heavy equipment distributor), setting up new operation division and building new printing plant.
For 2015, PTPP targets 25% of new contracts and 35% growth for revenues and net profit.
PTPP booked revenues of Rp7.81 trillion in first nine months of 2014, grew by 7.6% from Rp7.25 trillion a year earlier. Operating profit rose 22% to Rp702 billion.
The company’s assets totaled Rp12.77 trillion while liability amounted Rp10.6 trillion. It has huge cash and cash equivalent of RpRp1.15 trillion.