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PWON – Top Line Increases, Indicates Business Recovery

  • Author
  • Recent Posts
Ajeng Kartika Hapsari
Ajeng Kartika Hapsari
Analyst - Property, Construction
Ajeng Kartika Hapsari
Latest posts by Ajeng Kartika Hapsari (see all)
  • CTRA – Focused in Developing New Cluster in Existing Projects - December 8, 2021
  • PWON – Economic Recovery Boosts Recurring Income - December 1, 2021
  • PTPP – Targeting National Strategic Project (PSN) Contracts - November 22, 2021

PWON booked an impressive 3Q20 income at IDR1.07 trillion or +10.9% above our estimates and increased 231% QoQ. The gain was supported by all income segments including condominium and office sales, indicating PWON business recovery. Meanwhile, until September, marketing sales have reached IDR725 billion or 68.4% of the target. We are optimistic that PWON can continue performance recovery in 4Q20 supported by better mobility and purchasing power.

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