Ancol's First Quarter Revenue Drops Compared To Last Year, This Is The Cause

JAKARTA - PT Pembangunan Jaya Ancol Tbk (PJAA) released a financial report for the first quarter of 2024 with an income of IDR 255.6 billion. This revenue decreased by 1.8 percent compared to the first quarter of 2023.

In the same period, the revenue of the business entity with the majority stake owned by the DKI Provincial Government amounted to Rp260.3 billion.

PJAA Corporate Secretary Agung Praptono admitted that this decline in revenue was influenced by the faster shift in the month of Ramadan every year.

"This year's March calendar is almost 70 percent of the fasting month of Ramadan, where there will be a downward trend in tourist visits," Agung said in his statement, quoted Thursday, May 30.

At the same time, Ancol also conducted larger operating spending to prepare for the peak season for the Eid holiday to improve the quality of the visitor vacation experience.

"This certainly has consequences for increasing costs that affect the achievement of the Company's profit in the first quarter of 2024," he said.

However, Agung said he was optimistic that revenue in the first semester of 2024 would be better. This is because management is committed to controlling operational expenses and operating income (BOPO).

It is known, PJAA posted a net profit of IDR 235.17 billion during 2023. This figure is up 52.48 percent compared to 2022.

This growth was driven by operating income which reached IDR 1,273.83 billion, up 32.98 percent compared to the same period in 2022. Basic earnings per share also increased 52.48 percent from IDR 96 in 2022 to IDR 147 in 2023.