Wijaya Karya comprehensive net profit edges lower 3.65 pct, revenues up

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JAKARTA (TheInsiderStories) – PT Wijaya Karya (Persero) Tbk (IDX:WIKA), a major state owned construction company, posted comprehensive net profit of Rp709.31 billion in 2015, edged lower 3.65 percent from a year earlier at Rp736.15 billion. The decline was mainly due to higher financial charges.

Its net profit attributable to parent entity, however, rose to Rp625.4 billion from Rp608.15 billion a year earlier.

In the year, the company posted revenues of Rp13.62 trillion, up 9.3 percent from previous year, in line with increasing project contracts carried out during the year. The higher revenues lifted its operating profit to Rp1.51 trillion from Rp1.40 trillion in 2014, representing an increase of 7.86 percent.

Its earnings per share was however up 2.78 percent to Rp101.81 a share, compared to Rp99.06 per unit share a year earlier.

Last year, the company posted financial charges of Rp431.41 billion, increased from Rp197.7 billion in previous year. This led to a decline in pre-tax profit of Rp1.1 trillion  from Rp1.14 trillion in previous year.

In 2015, WIKA’s assets reached Rp19.6 trillion, surged 23.2 percent from Rp15.9 trillion in previous year. Its liabilities, however, increased 28.3 percent to Rp14.1 trillion from Rp11.03 trillion.

The company expects to benefit from the government’s infrastructure development plans this year. It earlier set target to get Rp52.26 trillion in new contracts in 2016, more than double from last year’s contracts of Rp25.33 trillion.

Last week, the company signed new contracts from the Energy and Mineral Resources Ministry (ESDM) to develop energy-related projects worth Rp493 billion. The contracts were the largest received by state owned construction firms. The other state owned firms that secured contracts from the ministry are also TP Nindya Karya and PT Rekayasa Industri. (*)

 

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Source: The Insiderstories
Wijaya Karya comprehensive net profit edges lower 3.65 pct, revenues up

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