Property developer PT Surya Semesta Internusa Tbk (SSIA) reported a 340.1% jump in net profit at the end of September this year, underpinned by contribution from industrial land.
Surya Semesta booked Rp183.1 billion in net profit in 9M 2011 from Rp41.6 billion in 9M 2010. Net profit margin more than double to 8.4% from 3.5%.
The company's EBITDA surged 174.9% to Rp388.4 billion from Rp140.8 billion. Operating profit skyrocketed 239.5% to Rp336.1 billion from Rp99 billion, boosting its margin to 15.5% from 8.4%. Operating revenue increased 84.4% to Rp2.17 trillion from Rp1.78 trillion.
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