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Pudjiadi Prestige Q1 profit falls YOY

PT Pudjiadi Prestige Tbk said its normalized net income for the first quarter was 2.03 rupiah per share, a decline of 72.8% from 7.48 rupiah per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 670.1 million rupiah, a decline of 72.8% from 2.47 billion rupiah in the prior-year period.

The normalized profit margin fell to 3.7% from 11.4% in the year-earlier period.

Total revenue fell 17.1% year over year to 17.98 billion rupiah from 21.68 billion rupiah, and total operating expenses decreased 6.4% year over year to 17.57 billion rupiah from 18.78 billion rupiah.

Reported net income declined 88.8% year over year to 345.9 million rupiah, or 1.05 rupiah per share, from 3.08 billion rupiah, or 9.35 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.