PT Pembangunan Jaya Ancol Tbk (PJAA) reported revenue of Rp255.65 billion in the first quarter of 2024.
The company's financial report reveals that this revenue figure decreased by 1.8% year-on-year (yoy) compared to the same period last year, which was Rp260.34 billion.
PJJA Corporate Secretary, Agung Praptono, stated that this profit decline was influenced by the Ramadan holiday season.
“Almost 70% of March this year fell within the Ramadan fasting month. During Ramadan, there is a trend of decreased tourist visits,” said Agung in a press release on Thursday (2/5/2024).
This revenue decline occurred across almost all supporting segments. Specifically, ticket revenue amounted to Rp174.04 billion, a decrease of 6.12% (yoy).
In addition, hotel and restaurant revenue also fell by 9.09% (yoy) to Rp15.78 billion in the first quarter of this year.
Meanwhile, real estate revenue reached Rp5.67 billion, and other business revenue reached Rp60.78 billion, an increase of 4.92% year-on-year (yoy).
In line with the revenue decline, net profit attributable to the parent entity of PJAA also plummeted by 71.05% (yoy) to Rp13.02 billion in the first quarter of 2024.
As of the end of March 2024, PJAA's total assets reached Rp3.59 trillion, down 3.96% (yoy) compared to the end of December 2023, which was Rp3.74 trillion.