JAKARTA (Yosefardi) – Industrial estate developer PT Surya Semesta Internusa Tbk (SSIA) booked net profit of Rp228.5 billion in first nine months of 2014, dropped 59% from Rp486 billion in the corresponding period of 2013.
The drop in profit grwoth was due to a 41% drop in its industrial land sales by third quarter of 2014.
While revenue declined 2.9% to Rp3.25 trillion from previous Rp3.35 trillion. The construction business unit, through PT Nusa Cipta Raya Tbk (NRCA), contributed Rp2.42 trillion revenue, a 18.4% growth. While revenue from property business dropped 59% to Rp366.2 billion.