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.
