State-Owned Construction Companies' Revenue Soars 52% in Semester I

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22/08/2017 15:29 WIB

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Revenue of Four State-Owned Construction Companies (SOEs) H1 2016 - H1 2017

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State-Owned Construction Companies' Revenue Soars 52% in Semester I

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Revenue of Four State-Owned Construction Companies (SOEs) H1 2016 - H1 2017

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The boom in building and infrastructure development in Indonesia has boosted the coffers of state-owned construction companies (BUMN Karya) by 52 percent in the first half of 2017. Based on published financial reports, four BUMN Karya—Adhi Karya, Jasa Marga, PT PP, and Waskita Karya—achieved a combined revenue of Rp 33.39 trillion in the first half of this year, compared to Rp 21.9 trillion in the same period of the previous year. Wijaya Karya, another BUMN Karya, has yet to release its first-half 2017 financial report.

Waskita Karya led the revenue growth among BUMN Karya in the first six months of 2017. The company, traded under the code WSKT, saw its revenue surge by 92.3 percent to Rp 15.54 trillion compared to the first six months of the previous year. This was followed by Adhi Karya, which recorded a 65.6 percent revenue growth to Rp 5.1 trillion. PT PP saw a 25.6 percent revenue increase to Rp 8.1 trillion, while Jasa Marga experienced a 7.5 percent growth, reaching Rp 4.52 trillion compared to the first half of the previous year.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."