JAKARTA – PT Summarecon Agung Tbk (SMRA) posted a net profit surge of 79.3%, reaching IDR 1.37 trillion throughout 2024.

The profit growth aligns with SMRA's revenue performance, which rose 59.53% to IDR 10.62 trillion in 2024, compared to IDR 6.65 trillion in the previous year.

SMRA's management stated that most of the revenue came from the property development business, followed by investment property, recreation, hospitality, and others.

“Property development was the main contributor, generating IDR 7.5 trillion, an 85.64% increase from IDR 4.04 trillion in 2023,” SMRA's management said in an official statement last Friday (14/3).

Meanwhile, investment property revenue increased by 24.28% to IDR 2.15 trillion in 2024, while other business segments contributed IDR 449.04 billion.

As of 10.39 AM WIB today, SMRA's stock price had dropped by 3% to IDR 388 per share. However, over the last five days, its stock price has slightly risen by 1.04%. (DK/KR/ZH)