Alam Sutera Realty Reports 2016 Financial Performance
ALAM SUTERA REALTY REPORTS 2016 FINANCIAL PERFORMANCE
Tangerang, 31 Maret 2017 – PT Alam Sutera Realty Tbk (“ASRI”) today, 31 March 2017 announced its financial performance for 2016.
ASRI recorded a total revenue of IDR 2,715.7 bn in FY2016. Houses and shophouses revenue experienced a robust growth of 208% to IDR 1,000.9bn in FY2016 as compared to IDR 325.1bn achieved in FY2015. In addition, ASRI managed to book a substantial IDR 437.5 bn revenue from both apartments and offices after a minimal revenue recognition from these segments since 2013. However, land lots revenue shrank to IDR 902.1 bn in FY2016 after a record-high achievement of IDR 2,095.3bn in FY2015.
Recurring revenue continues to provide a steady annual growth to IDR 373.5bn in FY2016 as compared to IDR 358.9bn achieved in FY2015 amid the cyclicality of the property sector. An encouraging revenue pick-up of 26% was seen in Garuda Wisnu Kencana project in Bali
Gross profit decreased to IDR 1,464.9 bn in FY2016 from IDR 2,056.1bn in FY2015. This i