Lippo Cikarang, Bekasi, Indonesia
Friday, 28 February 2017
PT Lippo Cikarang Tbk (“LPCK”) today announced its financial results for the quarter ended March 31, 2017. Amidst Indonesia’s property sector slowdown, the Company reported Total Revenue of Rp 447 Billion, Gross Profit of Rp 213 billion, and Net Profit of Rp 185 billion.
The Residential Housing & Apartment’s Revenues grew to Rp 375 billion representing 84% of Total Revenue.
LPCK’s Recurring Revenue increased by 8% to Rp 68 billion in Q1 2017 from Rp 63 billion in Q1 2016,contributing 15% to Total Revenues in Q1 2017.
Total Assets slightly increased by 2% to Rp 5.8 trillion from Rp 5.7 trillion in Q1 2016.
Toto Bartholomeus, President Director of PT Lippo Cikarang Tbk, said: “We will do our best in preparing Orange County as a sustainable project for future growth, It will be a world class mixed-use developmentas a center hub in the Eastern Jakarta Corridor”.
Orange County will be a Globally Connected City, as a hub of business activities and lifestyle in the Eastern Jakarta Corridor, on an area of 322 hectares, with estimated project value of Rp250 trillion. The first five residential towers have been launched with 100% sold out rate at their respective launch. Newport Park, the sixth tower, was launched on November 2016 with 87% of the apartments sold on the launch day. The 5th and 6th apartment towers are a joint venture between Lippo Group and Mitsubishi Corporation, Japan.
LPCK is an urban development with a total areaof more than 3,000 hectares with industrial area as its base economy. LPCK has succeeded in building more than 14,000 landed houses, with a population of 50,720 residents and 484,300 people working daily in 993 manufacturing companies which spread out in Lippo Cikarang industrial area.
LPCK is a subsidiary of PT Lippo Karawaci Tbk (“LPKR”), Indonesia’s largest listed property company by total assets and revenues, anchored by a large land bank and solid recurring income. LPKR’s business comprises of residential/township, hospitals, retail malls, hotels and asset management.
LPCK is listed on the Indonesian Stock Exchange with a market capitalization of Rp3.2 trillion or US$240 million as of April 26th, 2017.
For further information, pls contact:
Hong Kah Jin
Director
PT Lippo Cikarang Tbk
Telp.021-897 2484/2488
Dea Thamrin
Corporate Secretary
PT Lippo Cikarang Tbk
Telp.021-897 2484/2488
www.lippo-cikarang.com
