OVO to be the Future of Lippo Group

By Editorial Team 25/09/2019
Summary

Lippo Group expects the performance in the healthcare sector to support the company’s performance this year. The property sector growth, the backbone of the group, is getting stagnated and affecting the group’s income. PT Lippo Karawaci Tbk (LPKR), for example, suffered from Rp 1.4 trillion of losses in the first half of 2019 after in the previous period recorded Rp 485.55 of profit. Meanwhile, the net profit of PT Lippo Karawaci Tbk (LPKR) also slumped to Rp 210.04 billion or down 89.71 percent.

As a result, Lippo Group hopes that the growth of its healthcare sub-holding company, PT Siloam International Hospitals Tbk (SILO), keeps increasing to at least 15 percent-20 percent this year. The expectation is logical since, in the first half of this year, SILO pocketed Rp 3.37 trillion of revenue or up 19 percent year-on-year, while successfully recorded Rp 10.61 billion of profit. The number was more significant than the performance in the first half of 2018, in which SILO only registered around Rp 21.34 billion of net profit.

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