PP Presisi Raises Revenue Of IDR 790.7 Billion In The First Quarter Of 2022

Illustration. (Photo: Doc. Antara)

JAKARTA - PT PP Presisi Tbk (PPRE) today announced the positive development of its company's performance in the first quarter of 2023, compared to the same period in 2022.

As a company engaged in construction with five main business lines, namely Civil Works, Mining Services, Production Plant, Rental Equipment, and Structure Work, PT PP Presisi Tbk shows solid growth amid existing challenges.

President Director of PT PP Presisi Tbk, Rully Noviar, expressed his appreciation for improving the company's performance in the first quarter of 2023. Rully Noviadar also revealed that the company's revenue achievement was IDR 790.7 billion.

"The company's income based on business lines in the mining services sector also increased by 49 percent, Civil Work by 45 percent and the rest in the supporting business line by 6 percent," he said in a written statement, Thursday, May 11.

Director of Finance, Risk Management & Legal, M. Arif Iswahyudi, added that the company's gross profit increased by IDR 24 billion, from IDR 107 billion to IDR 131 billion YoY caused by the implementation of cost leadership which is in line with the increase in YoY's 20.3 percent net profit or an increase of IDR 8 billion, which is IDR 47 billion.

The acquisition of a work contract also increased by 10 percent to Rp1.1 trillion from Rp1 trillion YoY. Operations Director Rebimun revealed that this increase was mainly driven by the Mining Services sector, which contributed 84.3 percent of the total acquisition of new work contracts.

As part of PT PP Presisi Tbk's commitment to creating value for stakeholders, the company continues to develop business lines and seeks new opportunities, especially mining services. Which is an increase in marketing based on business lines, which is 78 percent for the Mining Service business line, 29 percent for the Rental Equipment business line and 1,618 percent for Production Plant.

Through good performance in the first quarter of 2023, PT PP Presisi Tbk continues to show stable and sustainable growth. The company's directors are optimistic that with the right strategy and effective implementation, PT PP Presisi Tbk will continue to create value for stakeholders.