Higher Sales Boost Lippo Karawaci
Bisnis.com, Jakarta - 01/08/2011
PT Lippo Karawaci Tbk posted 35% increase in net income to IDR298 billion in the second quarter of 2011 boosted by higher residential and healthcare sales.
Lippo Karawaci, the Indonesia's biggest listed property developer in term of market capitalization, booked IDR1.88 trillion revenue, a 29 growth for the first six months ended in June 30, 2011, from IDR1.46 trillion in the same period of last year.
President Director of Lippo Karawaci Ketut Budi Widjaja said all division dedicated strong growth in sales. Residential business, for instance, rose 38% to IDR901 billion and asset management increased 44% to IDR653 billion.
Meanwhile, healthcare business grew 17% to IDR593 billion. “We are constructing six hospitals now,” said Ketut, in a press release today.
The company is supported by five businesses; residential, retail malls, hospitals, hotels and asset management.
The LPKR-coded stock gained 7.69%, or IDR60 per unit, to IDR840 at the closing session in Jakarta trading today.
According to data compiled by Bloomberg, ten analysts had a consensus revenue estimate of Lippo Karawaci would reach IDR3.96 trillion for this year, whilst eleven analysts estimated that the company’s net income would reach IDR577.89 billion. (AGS)