Lippo Karawaci's profit 49% up

Lippo Karawaci's profit 49% up

JAKARTA: PT Lippo Karawaci, a property developer with a market
capitalization of about Rp 4.7 trillion (about US$468 million),
booked a 49 percent increase in net profit as of the third
quarter of the year.

In a media release received on Monday, the company said that
during the January-September period it had recorded a net profit
of Rp 278 billion, as compared to Rp 187 billion posted during
the same period a year earlier.

The profit surge was attributable to a 34 percent rise in
total revenue obtained over the same period, from Rp 1.12
trillion to Rp 1.50 trillion.

President director Viven G. Sitiabudi expected the company to
continue to perform well heading to the end of the year, and was
on course to achieve a full-year net profit of Rp 355 billion.

Euromoney magazine in early October listed the firm as the
best developer in the country, and ninth in the Asia-Pacific
region. -- JP