Ciputra's profit to grow 2%

Ciputra's profit to grow 2%

JAKARTA (JP): Publicly-listed property company PT Ciputra Development projected yesterday that this year's profits would increase by two percent to Rp 106.05 billion (US$47.7 million) from last year's Rp 104.01 billion.

In a presentation before investors and analysts, the company's executives disclosed that as of last December the company had booked a net asset value of Rp 2.14 trillion, or Rp 8,581 per share.

The company currently has five subsidiaries, including Citra Garden, CitraLand City Surabaya, Citra Grand City Tangerang, Citraland Grogol, CitraLand Semarang and CitraLand Golden Triangle.

Among the five subsidiaries, Citra Grand City is projected to contribute the largest portion of Rp 44.07 billion to the company's total projected profit of Rp 106.05 billion this year. (rid)