JAKARTA - PT Pakuwon Jati Tbk (PWON) recorded a net profit of IDR 2.62 trillion in 2024, up 14% from the previous year which reached IDR 2.29 trillion.

According to the latest financial report, PWON's revenue rose 8% to Rp6.67 trillion, with an 11% increase in recurring revenue to Rp5.19 trillion in 2024 being one of the factors for the increase in revenue.

The company recorded marketing sales for 2024 of Rp1.55 trillion up 16% compared to last year's Rp1.34 trillion mainly from the sale of a number of apartment units at Pakuwon Mall Surabaya, Pakuwon Residences Bekasi, Eastcoast Mansion Surabaya and Kota Kasablanka Jakarta and supported by the sale of housing units in Grand Pakuwon and Pakuwon City Surabaya townships.

Minarto Basuki, Finance Director and Corporate Secretary of PWON, affirmed that around 59% of PWON's total marketing sales came from the government-borne value added tax incentive programme (PPN DTP).

‘Sales consisted of landed houses and condominiums by 46% and offices by 54%,’ said Minarto in a written statement, Wednesday (26/3).

Meanwhile, the company's gross profit was recorded at IDR 3.77 trillion, up 11% compared to the previous year's IDR 3.40 trillion.

According to IDNFinancials.com data, PWON managed to record an 8.13% increase in total assets to IDR 35.37 trillion as of 31 December 2024. Meanwhile, total equity as of 31 December 2024 reached IDR24.75 trillion.(DH/LM)