JAKARTA. PT PP (Persero) Tbk. (PTPP) in 2022 recorded an increase in revenue of 12.87% but an increase in a number of expenses has put net profit only up 1.19%.

In its financial report, PTPP's revenue was recorded at IDR 18.92 trillion in 2022, up 12.87% from IDR 16.73 trillion recorded the previous year. However, there was an increase in PTPP's cost of revenue which swelled from IDR 14.58 trillion in 2021 to IDR 16.24 trillion in 2022, or an increase of 11.35%.

After deducting a number of expenses, PTPP recorded a gross profit of IDR 2.67 trillion in 2022, an increase of 23.09% from IDR 2.17 trillion in 2021. In the end, PTPP posted profit for the year increasing 1.19% to IDR 365.74 billion from IDR 361.42 billion.

Until the end of December 2022, PTPP's total assets were recorded at IDR 57.61 trillion, compared to the end of December 2021 which amounted to IDR 55.57 trillion. while its total liabilities were recorded at IDR 42.79 trillion, an increase compared to the end of 2021 which amounted to IDR 41.24 trillion. Meanwhile, PTPP's total equity was recorded at IDR 14.82 trillion, a slight increase compared to 2021 which amounted to IDR 14.33 trillion. (AM/LM)