Waskita Karya posts 53.76 percent increase in q3 profit

Jakarta (Antara News) – PT Waskita Karya Tbk has reported a 53.76 percent increase in profit to Rp4.49 trillion in the third quarter of this year from Rp2.92 trillion in the same period last year.

The publicly listed state-owned construction company said in an official statement that Antara received here on Thursday that it is focusing on finishing a number of big infrastructure projects with contracts valued Rp101.76 trillion.

Among the projects are toll roads such as Trans Java and Trans Sumatra, it said.

The statement said its operating income shot up 26.98 percent to Rp36.23 trillion in the third quarter from Rp28.53 trillion in the same period last year.

It said company already received its fourth phase of payment of Rp3.9 trillion for the construction of the South Sumatra Light Rail Transit (LRT) in September 2018.

The countrys largest construction company hopes to receive more payments before the end of this year from a number of turnkey projects already finished valued at Rp15 trillion-Rp20 trillion.

Until the end of the third quarter of this year Waskita Karya already finished construction of a number of infrastructure projects including South Sumatra LRT, sections 3 and 4 of the Pejagan-Pemalang toll road, the Kartasura-Sragen toll road, the Ahmad Yani airport of Semarang and runway of Aji Pangeran Tumenggung (APT) Pranoto airport of Samarinda.

In the next few months the company hopes to finish the projects of Pemalang-Batang toll road, Batang-Semarang toll road, and Salatiga-Kartasura toll road.

The statement said in carrying out its project Waskita Karya has always attached importance to professionalism observing the principle of Good Corporate Governance (GCG).

Currently road infrastructure mainly toll roads and flyovers dominate the projects of Waskita Karya.

Source: ANTARA News