Developers Of Kota Kasablanka And Gandaria City Malls Owned By Conglomerate Alexander Tedja Raise Revenue Of IDR 2.75 Trillion And Profit Of IDR 753.5 Billion

Photo: Doc. Pakuwon Jati

JAKARTA - Property developer owned by conglomerate Alexander Tedja, PT Pakuwon Jati Tbk (PWON) achieved a net profit of Rp753.5 billion in the first semester of 2022.

In PWON's financial report, quoted on Friday, August 11, the developers of Mak Kota Kasablanka and Gandaria City posted revenues of IDR 2.75 trillion in the first semester of 2022, up 11.84 percent year on year (yoy) from IDR 2.26 trillion in the first semester of 2021.

Revenues mainly came from contracts with customers of Rp1.99 trillion, followed by room rentals of Rp719.86 billion. The cost of revenue was Rp1.33 trillion from the previous Rp1.28 trillion.

However, gross profit still rose to Rp1.42 trillion from Rp1.17 trillion as of June 2021. Profit for the period attributable to owners of the parent entity was Rp753.5 billion.

The net profit rose 62.27 percent yoy from the previous Rp465.06 billion. Total cash and cash equivalents reached Rp7.67 trillion as of June 2022.

Cash and cash equivalents increased from the previous Rp5.81 trillion. PWON's liabilities reached Rp9.68 trillion, tended to be stagnant at the end of last year.

Short-term liabilities Rp2.85 trillion, while long-term liabilities Rp6.83 trillion. PWON's equity is IDR 20.04 trillion as of June 2022, up from IDR 19.17 trillion at the end of 2021. Pakuwon's total assets are IDR 29.77 trillion, up from the previous IDR 28.86 trillion.