Feb 3, 2012

Bumi Serpong to post Rp2.8 trio revenue

Property developer PT Bumi Serpong Damai Tbk (BSDE), controlled by Sinarmas Group, estimates that the company enables to post Rp2.8 trillion revenue last year, a 13.45% increase from Rp2.47 trillion last year.
Director Hermawan Widjaja at Bumi Serpong, as quoted by Bisnis Indonesia today, said the company is optimistic to achieve the target of Rp2.75 trillion last year.
He seems optimistic that Bumi Serpong is able to surpass net profit target last year of Rp700 billion-Rp750 billion, showing a 77.48%-90.16% increase from Rp394.4 billion in 2010. According to him, the steep jump in revenue and net profit was mainly driven by the takeover on three companies such as PT Duta Pertiwi Tbk, PT Sinas Mas Wisesa, and PT Sinar Mas Teladan.

Disclosure: No position at the stock mentioned above.

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