Mar 7, 2011

Intiland FY10 net income surges

The net income of PT Intiland Development Tbk is estimated to reach Rp300 billion last year or surge 12 folds compared to Rp25.61 billion in the previous year.
Corporate Secretary of Intiland Development, Theresia Rustandy said that the company’ sales value during 2010 somehow approaches the assumed target being set by the management in the early year.
“The sales value is in line with our target while the net income reaches around Rp300 billion. You only have to wait the year-end financial report to be published in the end of March 2011,” he said last week.
Referring to the company’s sales assumption in the early year, Intiland is projected to pack Rp900 billion revenue until the end of 2010 or soars by 132% compared to 2009’s figure at Rp386.82 billion.
The company recorded Rp714.83 billion sales along with Rp293.07 billion net income as per September 2010.
Theresia also said that the property projects being executed by the company this year are slightly different with the previous projects, for instance the development of office areas in TB Simatupang Street, residential area in Graha Natura Surabaya, hotel projects, industrial areas in Ngoro Industrial Park to be completed this year.

Disclosure: No position at the stock mentioned above.  

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