PWON comprehensive profit of 2019 grow by 13%
PT Pakuwon Jati (PWON) records net income of Rp 7,202 billion, an increase from Rp 7,081 billion the previous year. Meanwhile, comprehensive profit is recorded at Rp 3.231 billion, an increase of 13.3% from year 2018 of Rp 2,851 billion.
2019 income is composed of 51% recurring revenue and 49% development revenue, consistent with Company’s strategy to grow with balanced composition of recurring and development revenue.
Company’s 2019 Recurring revenue reaches Rp 3,693 billion which is an increase of 6.5% compared to Rp 3,468 miliar in 2018. This is supported by increase of organic revenue from our existing shopping malls and hotels.
Meanwhile, company’s Development revenue in 2019 hit Rp 3,509 billion derived from several apartment developments whose sales can be recognised; those developments are Benson and La Viz apartment in Pakuwon Mall area and Amor in East Coast Mansion. Company’s last year development revenue was Rp 3,613 billion.
Based on revenue per segment, Condo sales and retail leasing contributed the most with 40% and 39% respectively, hotel and servived apartments 8%, landed houses 7%, office leasing 4%, and office sales 2%.
Expenses by Company during 2019 is up to Rp 1,822 billion spent on construction of Kota Kasablanka Phase 2, Tunjungan Plaza 6, Pakuwon Mall phase 3, phase 4, phase 5, East Coast Mansion and purchase of land bank.
About PT Pakuwon Jati Tbk.
Pakuwon Jati owns, manages, and develops properties established 38 years ago and has been listed in Indonesia stock exchange since 1989. The company has a very well diversified business concept through property investment in which Pakuwon develops, owns, and manages shopping malls, office centers, and hotels, as well as sells strata title offices, condominiums, and township landed houses. Pakuwon Jati will continue to grow with balanced recurring and development revenue.
Here is the portfolio of properties owned by Pakuwon Jati:
- Superblok Gandaria City, Jakarta (retail shopping mall, apartment, office and hotel)
- Superblok Kota Kasablanka, Jakarta (retail shopping mall, apartment and office)
- Somerset Berlian, Jakarta (serviced apartment)
- Blok M Plaza, Jakarta (retail shopping mall)
- Superblok Tunjungan City, Surabaya (retail shopping mall, apartment, office and hotels)
- Superblok Pakuwon Mall, Surabaya (retail shopping mall, apartment, serviced apartment and hotels)
- Royal Plaza, Surabaya (retail shopping mall)
- Pakuwon City township (landed residential), Pakuwon City (retail shopping mall), dan East Coast Mansion (apartment under construction), Educity apartment, in east Surabaya
- Grand Pakuwon township (landed residential) dan Food Junction (Hypermarket, culinary & leisure destination), in west Surabaya
- Superblok Pakuwon Mall, Bekasi (retail shopping mall, apartment, hotel that will soon begin construction)
For further information:
Minarto Basuki (Director and Corporate Secretary)
PT Pakuwon Jati, Tbk.
EastCoast Center 5th Floor
Jl. Kejawan Putih Mutiara No. 17, Surabaya
Phone : (6231) 58208788; Faksimili: (6231) 58208707