JAKARTA. PT Lippo Karawaci Tbk (LPKR) booked net profit of IDR 1.1 trillion in the first half of 2023, a huge difference from its performance in the same period last year, in which it lost IDR 1.2 trillion.

Looking from the top line, LPKR only managed to collect revenue of IDR 8.01 trillion in H1 2023, which only rose 18.49% year-on-year (yoy).

John Riady, Group CEO of LPKR, claimed that the performance in H1 2023 is a successful turnaround. “The achievement indicates improvement in fundamental aspects of our entire business units,” he added in the official statement.

It is known that LPKR’s net profit surge in H1 2023 is driven by other income posts that reached IDR 1.37 trillion. Meanwhile, other income in H1 2022 was only IDR 18.94 billion.

Those other income posts in H1 2022 came from gains of bonds’ buyback that were recorded at IDR 918 billion. Then, there were also gains from foreign exchange of IDR 433.18 billion and fines of IDR 19.17 billion.

According to segments, most of LPKR’s operating revenue came from the healthcare business line that contributed IDR 5.28 trillion. Then, real estate services brought in IDR 2.18 trillion, followed by the lifestyle segment of IDR 610 billion. (KR/ZH)