Lippo Cikarang profit up

JAKARTA (JP): Publicly listed property developer PT Lippo Cikarang of the widely diversified Lippo Group posted a net profit of Rp 76.4 billion (US$19.10 million) as of June this year, a 13.5 percent increase from Rp 67.3 billion in the corresponding period last year.

The company said yesterday that its sales rose to Rp 193.2 billion as of June 1997, up 1.5 percent from Rp 190.4 billion in the same period last year.

The company booked total equity of Rp 370.1 billion and assets of Rp 802 billion as of June 1997.

The company's president, Herman Latief, said the company was committed to developing more infrastructure in its housing estate in Cikarang, West Java, to lure more home buyers. (aly)