Agung Podomoro Land, Property Developer Owned By Conglomerate Trihatma Haliman Loss IDR 407 Billion In Semester I 2021

JAKARTA - Property developer PT Agung Podomoro Land Tbk experienced an unfavorable period in the first six months of this year. The reason is that the income of the issuer coded APLN has decreased and is still recording a loss in the first semester of 2021.

In APLN's financial report, quoted on Tuesday, August 31, this property company owned by conglomerate Trihatma Haliman recorded revenue of Rp. 1.55 trillion, down 9.73 percent compared to the same period last year of Rp. 1.72 trillion.

The decrease in revenue plus net loss for the current period attributable to owners of the parent company also swelled to Rp407.56 billion compared to the previous loss of Rp3 billion. Meanwhile, APLN's total sales continued to decline in the January - June 2021 period, although home sales rose significantly.

Sales fell 6.43 percent to Rp1.04 trillion from the previous Rp1.11 trillion. It includes residential house sales worth IDR 421.59 billion, an increase of 1,126 percent compared to the first semester of 2020 worth IDR 34.38 billion.

However, apartment sales fell 44.07 percent to Rp554.30 billion and sales of kiosks and outlets fell 43.30 percent to Rp42.37 billion.

Meanwhile, the recurring income segment consisting of rentals, hotels, and others fell 15.80 percent to Rp506.48 billion from the previous Rp601.56 billion.

Agung Podomoro Land's total assets were observed to fall 0.36 percent from the position at the end of last year to Rp30.28 trillion. Equity decreased 3.72 percent year-to-date to Rp10.93 trillion and liabilities increased 1.64 percent ytd to Rp19.34 trillion.