Sinarmas Land's Q2 earnings up 78.8%

SINGAPORE - Indonesia developer Sinarmas Land reported a 78.7 per cent rise in net profit for the second quarter.

Earnings came in at $63 million for the three months to June 30 compared with the same period a year earlier.

Revenue rose 34.3 per cent to $299.3 million.

Earnings per share for the quarter were 1.48 cents, compared with 0.89 cents previously, while net asset value per share was 46 cents as at June 30, compared with 47 cents as at Dec 31.