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In 2000 Total Revenue rose 58,3% from 1999 figures. This increase
was explained by 84,7% rise in the real estate sales and 31,6% climb
in the rental income. The recreational sector income decreased by
9,3% due to closings for refurbishment works at Klub
Kelapa Gading.
Landrights sales made up 63,7% of the total real estate revenues,
whilst the rest came from sales of houses, shophouses and others.
This proves once again that consumers regained their confidence
in real estate investments albeit the economic outlook was not rosy.
Gross Profit in 2000 went up by IDR 82,7 billion or 95,6% compared
to the previous year. This increase was inline with increase in
sales and was also due to relatively higher profit margin of landrights
sales.
Operating Profit was IDR 135,6 billion, an escalation of 134% from
1999. An on-going cost efficiency efforts since the economic crisis
has contained the increses in the operating expenses to 17,7%. This
succesful endeavor was reflected in the much better operating profit.
Although the operating profit showed improvements, the net profit
declines by 56,9%. This was attributed to fires losses of IDR 120
billion as the Rupiah eroded in value againts the US dollar.
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