JAKARTA – Net profit of PT Pakuwon Jati Tbk (PWON) reportedly grew 36.86% year-on-year (yoy) in 2023 compared to 2022. This achievement is in line with revenue growth, particularly coming from hotel segment, and further supported by interest income surge, as well as declining loss on derivative financial instruments.

In the 2023 Financial Report quoted today (26/3), Alexander Stefanus Ridwan Suhendra, President Director of PWON, mentioned that the company managed to book revenue of IDR 6.20 trillion, a slight upturn from 2022 of IDR 5.98 trillion. Its gross profit also went up to IDR 3.4 trillion from IDR 3.12 trillion, boosting gross profit margin to 54.83% from 53.74%.

Profit before taxes clocked up to IDR 2.40 trillion, also growing from IDR 1.84 trillion. This growth is further driven by increased interest income, gains on foreign exchange, and decreased loss on derivative financial instruments.

This issuer managed to collect current year’s net profit of IDR 2.38 trillion, up from IDR 1.83 trillion. Meanwhile, the net profit attributable to the parent company was IDR 2.10 trillion, 36.86% yoy higher than IDR 1.53 trillion, while non-controllers were attributed net profit of IDR 27.69 billion, down 5.40% yoy from IDR 291.46 billion.

Throughout 2023, shopping centre and apartment service generated revenue of IDR 3.50 trillion, followed by real estate of IDR 1.53 trillion, and hotel of IDR 1,67 trillion. For comparison, in 2022, shopping centre and apartment service brought in IDR 3.01 trillion, followed by real estate of IDR 2.11 trillion, and hotel of IDR 857.71 billion. (LK/ZH)