Summarecon, Property Developer Owned By Conglomerate Soetjipto Nagaria Earns Revenue Of Rp2.45 Trillion And Profit Of Rp108 Billion

JAKARTA - Property developer PT Summarecon Agung Tbk recorded an increase in performance in the first six months of this year. The revenue and profit of the issuer codenamed SMRA increased significantly in the first semester of 2021.

In Summarecon's financial report, quoted Monday, August 30, the company owned by the conglomerate Soetjipto Nagaria posted revenue of Rp2.45 trillion, up 12.68 percent compared to the same period last year of Rp2.18 trillion.

With the cost of goods sold and direct costs relatively stable at Rp1.2 trillion, the company recorded a gross profit of Rp1.18 trillion. Meanwhile, profit for the current year attributable to owners of the parent company skyrocketed 964.11 percent to Rp108.54 billion from the previous Rp10.20 billion.

Meanwhile, property income increased 16.21 percent on an annual basis to Rp1.74 trillion. In it, home sales rose 44.86 percent to Rp1.21 trillion from the previous Rp836.28 billion.

Furthermore, the company recorded office sales of Rp37.68 billion from the previous absence and sales of plots which increased 96.90 percent to Rp34.30 billion.

Meanwhile, sales of apartments and commercial buildings still fell 37.59 percent to Rp234.66 billion and 17.19 percent to Rp213.22 billion, respectively.

Revenue from investment properties also increased 8.26 percent on an annual basis to Rp467.21 billion. Within this segment, there are mall and retail, commercial and other revenues, offices, and residences.

Summarecon's total assets grew 6.46 percent since the beginning of the year to Rp26.53 trillion. Equity grew 0.52 percent to Rp9.13 trillion and liabilities increased 9.87 percent to Rp17.40 trillion.