BSDE Recorded Fivefold Profit

By Editorial Team 26/08/2019
Summary

PT Bumi Serpong Damai Tbk (BSDE) recorded a fivefold net profit in the first half of 2019 at Rp 2.09 trillion or up 411.37 percent year-on-year. However, the company’s revenue was only Rp 3.6 trillion or up 15.38 percent year-on-year. The increase of net profit was the result of the rise of miscellaneous income and the effect of fundamental changes in measuring investment on associates as much as Rp 864.86 billion.

The company also recorded Rp 955.14 billion costs of revenue or up 8.56 percent year-on-year. However, the land and buildings sales boosted the company’s income up to Rp 2.59 trillion or up 32.14 percent year-on-year. The similar increase also happened in the rent, hotel, recreational facilities, and building maintenance revenues. On the other hand, the sales of land and strata title buildings contributed around Rp 201.44 billion or down 51.37 percent year-on-year.

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