PP Property Profit PP PP 188 Billion, Increases 15% – Finance

Medanbisnisdaily.com-Jakarta. PP PP Property Tbk (PPRO) throughout the first half of 2018 managed to pocket a net profit of Rp 188 billion. This number has increased by 15% over the same period last year, rising to 163 billion rupiahs.

Net profit is supported by the achievement of marketing sales of Rp 2.7 trillion. Achievement was up 80% from the first half of 2017.

Marketing sales are supported by 90% residential and commercial (hospitality center and shopping center) about 10%. Residential projects include Grand Kamala Lagoon, Grand Sungkono Lagoon, Grand Shamaya, Grand Dharmahusada Lagoon, Ayoma, Amarta View, Begawan.

While the commercials include the Park Hotel Jakarta, the Park Hotel Bandung, the Swissbel Hotel Balikpapan, Kaza City and GKL Lave Mall

"In the second half of 2018 we expect to receive payments for the sale transaction in bulk that will occur in the first half of 2018 with an estimated value of Rp 756 billion, coupled with the remaining funds from the bond issue yesterday, we are confident of fulfilling our commitment to consumers and shareholders to generate exceptional production progress from land banks and existing projects, "said Taufik Hidayat, chairman of the PPRO, Monday, July 30. quite strong.The debt ratio (DER) in June 2018 was 0.75 times with a current ratio of 2.69

The total badets of the company increased by 32%, rising from 10.71 billion rupees in the first half of 2017 to Rp 14 19 trillion. "This position showsa highly controlled debt level of the Company, "he added.

This year PPRO is preparing investment expenditures of 1.8 trillion rupees, of which about 75% will be used for the payment of land and the rest for the development of hotels and shopping centers. subsidiary company. Up to June 2018, it is absorbed by almost 40%

"Most of our investments are prioritized to pay the down payment on the land reserve, even if it is not there. has a debt to refinance, so the financial ratio will be controlled where the interest will be minimized. " 19659003] This year, PPRO targets revenues of 3.8 trillion rupees. "We are very optimistic with the target, the plan in the second half of 2018, we will launch several new products, including apartments in the area Kertajati, Entrance Suramadu, new launch tower Grand Kamala Lagoon and Grand Sungkono Lagoon", near Taufik. (dtf)