JAKARTA. PT Lippo Cikarang Tbk (LPCK), a real estate developer and manager owned by the Lippo Group, recorded a net profit of IDR 66 billion in the first semester (1H) of 2024.

The acquisition decreased by 9.5% year-on-year (yoy) or compared to the same period last year. According to the financial report, LPCK's net profit in 1H 2023 was recorded at IDR 73.4 billion.

In fact, in terms of top-line LPCK revenue increased by 19.6% yoy in 1H 2024, to IDR 691 billion. Meanwhile, revenue in the same semester last year was recorded at IDR 578 billion.

LPCK management said that revenue performance in 1H 2024 was supported by pre-sales figures that had reached IDR 741 billion. This is equivalent to 52% of the company's pre-sales target in 2024, which is IDR 1.43 trillion.

The flagship projects that support LPCK's pre-sales acquisition in 1H 2024 are residential projects, especially for landed houses and shophouses which contributed 68% and 20% to total pre-sales. For landed house products, the XYZ Livin and Cendana Spark - North clusters are the residences with the largest pre-sales contributions.

"We will continue to introduce new products in the next quarter to meet market demand. We are also committed to continuing development to be able to carry out timely handovers to our consumers," said LPCK Management, in its official statement. (KR/LM)