JAKARTA: Property developer PT Intiland Development Tbk (DILD) recorded a huge jump in its first half net profits at Rp 223.1 billion (US$24.76 million), a 35-fold increase from Rp 6.3 billion in the same period last year, the company said in a press release.
Intiland president director Lennard Ho Kian Guan said the jump followed surging demand in the housing sector, which accounted for 86 percent of the company's sales.
Intiland projects, such as Taman Semanan Indah in Jakarta and Graha Family in Surabaya, helped the company gain Rp 392.6 billion in sales in the first half.
"Proceeds from overall sales will be used to invest in new projects to optimize returns. We have prepared a number of new huge, potential and long-term projects to transform the business into an upgraded value," he said. - JP
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