JAKARTA. PT Suryamas Dutamakmur Tbk (SMDM), a real estate management and developer, booked net profit of IDR 109.76 billion in the first half (H1) of 2024.

The number is 3.4 times higher compared to the net profit of SMDM in H1 2023, in which the company only managed to collect net profit of IDR 25.15 billion.

According to the recently released financial report, SMDM’s net profit surge in H1 2024 was supported by its revenue that clocked up to IDR 452.34 billion in H1 2024. The revenue increased 122% year-on-year (yoy).

Most of SMDM’s revenue came from sales of land, houses, and apartments, which generated IDR 383.94 billion. Then, revenue from golf, country clubs, and estate management reached IDR 32.58 billion, followed by hotel of IDR 26.66 billion, and golf membership of IDR 9.16 billion.

Until June 30, 2024, SMDM’s total assets were recorded at IDR 3.51 trillion, with cash and cash equivalent of IDR 353.12 billion, as well as total equity of IDR 3.19 trillion. (KR/ZH)