Summarecon Agung, Property Developer Of Conglomerate Soetjipto Nagaria Earns Rp254.04 Billion Profit In Semester I 2022

JAKARTA - The property developer belonging to conglomerate Sioetjipto Nagaria, PT Summarecon Agung Tbk (SMRA) scored a better performance in the first semester of 2022 compared to the same period the previous year. The company managed to reap a net profit of Rp254.04 billion in the first six months of this year.

In SMRA's financial report, quoted on Saturday, August 6, Summarecon's net profit grew by 134.56 percent from IDR 108.54 billion in the first six months of 2021 to IDR 254.60 billion in the first semester of 2022. This profit was achieved from an increase in revenue to IDR 2.78 trillion, or up 13.5 percent from the first half of the previous year.

Meanwhile, SMRA's gross profit recorded an increase of 22.88 percent from Rp1.18 trillion in the first half of the previous year to Rp1.45 trillion in the first half of 2022. SMRA's total assets were also recorded to increase until June 2022 to Rp27.23 trillion, compared to the previous year. December 2022 amounting to Rp26.04 trillion.

Total liabilities also increased from 14.81 trillion as of December 31, 2021 to Rp. 15.90 trillion as of June 30, 2022. Meanwhile, total equity increased from 11.23 trillion as of December 31, 2021 to Rp. 11.32 trillion as of June 30. 2022.

In the last trading, Friday 5 August, SMRA's share price was stagnant, not moving at 620. Throughout 2022 (ytd), SMRA's share price recorded a decline of 25.75 percent. Meanwhile, in a year the price fell 22.50 percent.