JAKARTA (Yosefardi) – Property giant PT Agung Podomoro Tbk (APLN) plans to buy back 2.05 billion shares, representing 10% of its enlarged shares capital in November 28, 2014 to May 27, 2016.
APLN allocates Rp620 billion for the shares buyback program. The company booked net profit of Rp507 billion in nine months of 2014, down 15.2% from the same period of 2013.
APLN’s sales revenue inched up 0.8% only in the period, but mostly due to weakness in first half. In third quarter, APLN’s sales revenue actually improved 15.3%, while operating profit jumped by 38%.