JAKARTA - PT Pantai Indah Kapuk Dua Tbk (PANI) booked net profit of IDR 286 billion in the first half (H1) of 2024, up 35% year-on-year (yoy) from IDR 211 billion seen in the same period in 2023.

Sugianto Kusuma, President Director of PANI, mentioned that the company has recorded constantly positive performance. “With this periodic performance growth, the company may focus on expanding in order to meet demand and interest from the people,” Kusuma said in the press release quoted Wednesday (21/8).

In the first half (H1) of 2024, this Indeks52 constituent managed to collect revenue of IDR 1.34 trillion, relatively stable compared to IDR 1.34 trillion seen in H1 2023. However, its gross profit soared to IDR 751.97 billion, up from IDR 675.14 billion, magnifying the margin, as well, to 55.83% from 50.24%.

PANI’s revenue mostly came from sales of land plots and residential houses of IDR 1.31 trillion, actually decreasing from IDR 1.33 trillion. Then, land lease brought in IDR 346.50 billion, multiplying from IDR 84.86 billion, while other income increased to IDR 30.69 billion from IDR 6.41 billion.

According to Kusuma, the performance resulted from consolidated numbers from its subsidiary at the end of 2023, which was funded by its second rights issue.

In addition, PANI reported assets of IDR 36.3 trillion in H1 2024, up 8% yoy from IDR 33.7 trillion in December 2023. (LK/ZH)