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Sinarmas Land reports flat 3Q earnings of $17.6 mil on higher expenses

Samantha Chiew
Samantha Chiew11/13/2017 07:09 PM GMT+08  • 2 min read
Sinarmas Land reports flat 3Q earnings of $17.6 mil on higher expenses
SINGAPORE (Nov 13): Sinarmas Land reported 3Q ended Sept earnings increased by 0.7% to $17.6 million compared to $17.4 million a year ago.
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SINGAPORE (Nov 13): Sinarmas Land reported 3Q ended Sept earnings increased by 0.7% to $17.6 million compared to $17.4 million a year ago.

Total revenue for the 3Q17 ended Sept rose 36.8% to $199.6 million contributed mainly by higher sales of land parcels in both BSD City and Kota Deltamas, a larger number of residential units handed over to homebuyers as well as
increased revenue recognition from apartments in BSD City.

Concurrently, cost of sales were up by 43.6% to $57.6 million from $40.1 million in the previous year, while gross profit margin dipped to 71.2% compared to 72.5%.

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