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Sinarmas Land records almost sevenfold increase in 1H earnings to $331 mil on higher revenue, exceptional gains

Samantha Chiew
Samantha Chiew8/14/2019 06:56 PM GMT+08  • 2 min read
Sinarmas Land records almost sevenfold increase in 1H earnings to $331 mil on higher revenue, exceptional gains
SINGAPORE (Aug 14): Sinarmas Land reported 1H19 earnings increased nearly sevenfold to $330.8 million from a year ago on exceptional gain.
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SINGAPORE (Aug 14): Sinarmas Land reported 1H19 earnings increased nearly sevenfold to $330.8 million from a year ago on exceptional gain.

In 1H19, revenue increased 46.0% to $560.9 million from $384.3 million a year ago, mainly due to higher sales of commercial and industrial land parcels in Indonesia and higher sales of residential units in BSD City, Indonesia.

Cost of sales increased 55.2% to $177.2 million, resulting in gross profit for 1H19 coming in 42.1% higher at $383.8 million a year ago.

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