Mulialand's profit up 47%

Mulialand's profit up 47%

JAKARTA (JP): PT Mulialand, a publicly-listed property company
of the Mulia Group, booked a net profit of Rp 56.9 billion
(US$24,24 million) in the first six months this year, an increase
of 47 percent over the same period last year.

The company announced yesterday that the profit increase was
in line with significant revenues growth during the six month
period.

The increase revenues was a result of sales from the Wisma
GKBI building, which was acquired by the company early this year,
in addition to an increase in the sales of its Taman Anggrek
condominium.

Net sales in first half of this year reached Rp 268 billion
compared to Rp 185 billion in the same period of last year. Sales
of Taman Anggrek condominiums alone accounted for Rp 185 billion,
up from Rp 102 billion of last year.

"The acquisition of the Wisma GKBI building has increased our
rental office space in Jakarta's golden triangle area by 33
percent to 365,500 square meters," a director of the company
Thaja Sathiadi said in a statement.

Sathiadi also said that the company has obtained rental
commitments for up to 93 percent of its office spaces in the
Wisma GKBI building and 96 percent of its 95,000-square-meter
Taman Anggrek shopping mall. The management projects a 49 percent
profit increase to Rp 140 billion this year. (alo)