Bakrie and Brothers Profit Drops So Rp 8.3 Billion

Net income of PT Bakrie and Brothers Tbk (Bakrie) fell dramatically during the first half of 2013 to only Rp 8.36 billion. In fact, in the same period of the previous year the company was pocketing a profit of Rp 214.35 billion.

President Director of Bakrie and Brothers Bobby Gafur Umar stated, profit drop due to the divestment of a subsidiary Bakrie Petroleum International Pte in 2012. It, which makes the company’s revenues come eroded.

During the period January-June 2013 pesebesar company posted revenue of Rp 1.95 trillion, down from the acquisition of the first half of 2012 which reached Rp 11.39 trillion. “This is due to the deconsolidation of a subsidiary of Bakrie Petroleum us,” he said in a written statement on Wednesday, July 31, 2013.

The largest revenue contribution came from the company’s subsidiary in the manufacturing sector. Bakrie Building Industries opens Rp 380.73 billion in revenue, up 23 percent compared to the same period last year. Net income also rose 73 percent, or Rp 45.82 billion.

Bakrie Pipe Industries, which manufactures pipes also recorded a positive performance during the first semester of 2013. “Bakrie Pipe Revenue rose to Rp 751.92 billion from Rp 700.55 billion.’s Net profit also rose 102 percent from Rp 32.75 billion to Rp 66.22 billion,” said Bobby.

Boobby continued throughout the first six months of this year the management company managed to cut interest expenses and finance up to 78 percent or Rp 603 billion from Rp 775.79 billion in the first half of 2012 menjajdi Rp 172.78 billion in the first semester of 2013. “We will continue to depress spending and increase business efficiency,” he said

Slightly turnover, Profit Drops 54% XL fact to Rp 670 Billion

PT XL Axiata Tbk (EXCL) correction suffers 54% profit in the first half of 2013 to Rp 670 billion from Rp 1.46 trillion. The company’s revenue edged up 1%.

XL recorded net income of Rp 10.3 trillion in the first half of this year, from Rp 10.2 trillion in the previous position. The rise in revenue driven by increased data service revenues by 13%.

“Our performance this quarter marks our success to turn things around after a decline in the previous two quarters,” said President Director of XL Hasnul Suhaimi, in a press release on Thursday (01/08/2013).

Until the end of the first half of 2013, the XL has spent Rp 4 trillion for infrastructure investment in the data. A combination of internal funds and debt.

XL has signed a new loan agreement in U.S. dollars with Standard Chartered Bank in May 2013 for U.S. $ 50 million. Meanwhile, during the first half of this 2013 also, the amount of debt XL increased to Rp 17.1 trillion from Rp 12.7 trillion in the previous year.

“XL will remain focused on data services given the growing use of data rapidly increasing contribution to company revenues. During the first six months of this year, data revenue accounted for 22% of total revenue, compared to 19% last year, “he added.

PT Intiland Record 70 Percent Increase in Net Income

Intiland Development (Intiland) recorded an increase in its net profit by 74.85 percent to Rp140, 48 billion compared to the previous acquisition valued at Rp80, 18 billion. The increase also followed the company’s operating profit also increased by 76.17 percent to Rp250, 62 billion compared to the previous.

Director of Investments and Capital Management Intiland Pradono Archied Noto explained, the increase was primarily due to the soaring profitability of the company’s total operating revenues. Value of revenues increased in all business segments, both derived from real estate development, mixed-use and high rise, industrial, and hospitality.

“The first six months of this year, the property market is prospective and the trend is likely to increase people’s needs. This phenomenon is also reflected in revenue growth Intiland, either from development or re-curring income income, “he said in a written statement on Sunday (07/28/2013).

Based on financial statements as of June of 2013, the company posted revenue of 764.89 billion, up 44.12 percent compared to the first half of 2012. Increased revenues are primarily derived from the sale of residential and industrial areas.

“The increase in sales due to the recognition of revenue from the segment of residential areas, especially from Graha Natura project at Talaga Bestari in Surabaya and Tangerang, as well as sales of Ngoro Industrial Park II,” said Archied

Further, revenue from development (development income) stood still the largest contributor to the company’s valued at Rp687, 78 billion, or 89.92 percent of the total operating revenues Intiland. The number surged Rp224, 11 billion, up 48.33 percent compared to the first half of last year.

Real estate development segment was the largest contributor by contributing sales of Rp324, 91 billion or 42.47 percent reach. That number has increased by 30.16 percent compared Rp249, 62 billion in the first six months of last year.
The next largest contributor by Archied, derived from the industrial park development segment with sales valued at Rp185, 46 billion or 24.24 percent of the total revenue.

Compared to the first half of last year’s acquisition amounted to Rp46, 06 billion this year then its value soared up to four times. Development of mixed-use and high rise recorded contributed Rp177, 41 billion or 23.19 percent.

Meanwhile, for a sustainable income, Intiland recorded at Rp77, 10 billion, or 10.08 percent of total company revenue. This number is up 14.98 percent compared to the first half of last year. Revenues from the office segment reached Rp45, 51 billion or contributed 5.94 percent, followed by contribution of sport and golf is reached Rp21, 75 billion (2.84 percent), as well as the hospitality segment Rp9, 85 billion (1, 28 percent).