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Perdana Bangun Pusaka swings to loss in Q1

PT Perdana Bangun Pusaka Tbk said its first-quarter normalized net income was a loss of 4.21 rupiah per share, compared with 26.23 rupiah per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 639.4 million rupiah, compared with income of 3.99 billion rupiah in the year-earlier period.

The normalized profit margin dropped to negative 2.6% from 12.2% in the year-earlier period.

Total revenue declined 25.2% on an annual basis to 24.48 billion rupiah from 32.73 billion rupiah, and total operating expenses declined 21.5% on an annual basis to 22.84 billion rupiah from 29.10 billion rupiah.

Reported net income totaled a loss of 1.07 billion rupiah, or a loss of 7.04 rupiah per share, compared to income of 4.80 billion rupiah, or 31.57 rupiah per share, in the year-earlier period.

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