Property developer PT Ciputra Development reported net profit of 227.65 billion rupiah ($19.76 million) for the first quarter of this year, up 5 percent from 215.89 billion rupiah over the same period last year, said Director Tulus Santosa.
Revenue fell 8 percent to 1.2 trillion rupiah from last year's 1.3 trillion rupiah. Tulus said the company is still optimistic about achieving its full-year 2014 revenue target of 9 trillion rupiah.
Ciputra Development is targeting 2014 marketing sales of 10 trillion rupiah. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11522.5 rupiah) (Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi)