PT Summarecon Agung Tbk (Summarecon), Thursday, June 7, 2018 held the Annual General Meeting of Shareholders (AGM) and Extraordinary General Meeting of Shareholders (EGM) with one of its agenda is to report the the financial year ended 31 December 2017. The annual financial statements have been well received and have been approved in the AGMS.
At the GMS, the Board of Directors reported that Summarecon succeeded in obtaining pre-sales of Rp 3.6 trillion in marketing in 2017 or an increase of 18% compared to 2016, where housing contributed 46%, shophouses 25%, 14% apartments, 12% and 3% for other products. This result is obtained in the midst of low residential property sales growth throughout 2017. Referring to Bank Indonesia's survey, residential property sales growth throughout 2017 is in the range of 2.6% -4.2%, while the average sales growth of 3 last year was 9.2%.
In the financial statements of 2017, the Company also reported revenues of Rp 5.64 trillion or an increase of 4% with net profit of Rp 509 billion. The Property Development Business Unit is still contributes the highest revenue and operating profit of Rp 3.60 trillion (64% of total revenue) and Rp 876 billion (65% of total operating profit).