Alam Sutera Reports First Half of 2016 Financial Results
ALAM SUTERA REPORTS FIRST HALF OF 2016 FINANCIAL RESULTS
PT Alam Sutera Realty Tbk and subsidiaries (“the Company” or “Alam Sutera”) today, 29 July 2016 announced its financial performance for the first half of 2016.
The Company booked IDR 1,285.3 billion total revenue in the first half of 2016, a 26% decrease from IDR 1,732.6 billion in the same period in 2015.
“Alam Sutera’s revenue mainly contributed from the recognition of house sales in Pasar Kemis,” stated Joseph Sanusi Tjong, President Director of Alam Sutera.
Revenue from houses experienced a significant improvement to IDR 504.5 billion in the first half of 2016 from IDR 202.5 billion in the same period in 2015.
Recurring income and other revenues also experienced an increase to IDR 185.4 billion in the first half of 2016 from IDR 176.8 billion in the same period in 2015.
Gross profit decreased by 46% to IDR 741.5 billion in the first half of 2016 from IDR 1,371.4 billion in the same period in 2015. Gross profit margin decreased to 58% from 79%. Opera