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Indonesian property firm Lippo Karawaci Q1 profit up 35 pct
April 30, 2014 / 8:47 AM / 3 years ago

Indonesian property firm Lippo Karawaci Q1 profit up 35 pct

SINGAPORE, April 30 (Reuters) - PT Lippo Karawaci Tbk , Indonesia’s largest listed property company, reported on Wednesday a 35 percent rise in first-quarter net profit, lifted by its residential and healthcare units.

The company posted a net profit of 339 billion rupiah ($29.4 million) for the three months ended March, up from 251 billion rupiah in the same year ago period.

Revenues for its residential and urban development division surged 53 percent, while its healthcare unit saw a 29 percent increase in revenues.

Lippo Karawaci’s business includes, residences, shopping malls, hospitals, hotels and asset management.

$1 = 11,547.50 rupiah Reporting by Eveline Danubrata; Editing by Miral Fahmy

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