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Economy in brief: Jasa Marga profits slip on falling income
State-run toll road operator Jasa Marga has seen its net profits slip by nearly 40 percent on a yearly basis due to plunging construction income, after a number of toll roads concluded construction
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tate-run toll road operator Jasa Marga has seen its net profits slip by nearly 40 percent on a yearly basis due to plunging construction income, after a number of toll roads concluded construction.
Jasa Marga, according to its newly published first-half financial results, recorded a Rp 670.03 billion (US$49.78 million) bottom line during the January-June period, decreasing by 36.77 percent annually from Rp 811.59 billion it recorded in the same period a year before.
The plunging bottom line was directly impacted by a slump in the publicly listed company's sales, which were down by 8.48 percent year-on-year to Rp 4.09 trillion.
A steep fall in the company's construction revenue ' its second-biggest revenue generator ' offset its toll revenues of Rp 3.41 trillion during the reported period.
Jasa Marga's construction revenue halved to Rp 455.23 billion during the first six months of the year, compared with Rp 1.05 trillion it reaped in the first half of 2014.
'Considering that most of our construction works for our newly operating toll roads were concluded last year, we recorded a lower construction revenue compared to last year,' Jasa Marga corporate secretary Mohammad Sofyan said.
