Bumi Serpong Damai Net Profit Rises 116.28%
Bumi Serpong Damai Net Profit Rises 116.28%. One of property company, Bumi Serpong Damai Tbk (BSDE) has increased performance throughout the 2019 both in terms of income and net profit. Based on the 2019 financial report, BSDE was able to pocket the year-running profit attributable to the owner of the parent entity of IDR 2.79 trillion. The amount has increased 116.28% from IDR 1.29 trillion.
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The increase in profits was driven by an increase in business revenues and other income. Bumi Serpong Damai booked a business income of IDR 7.08 trillion or rose 6.79% YoY from IDR 6.63 trillion in 2018. The cost of sales also increased 8.02% from IDR 1.87 trillion to IDR 2.02 trillion. Meanwhile, gross profit went up 6.52% from IDR 4.75 trillion to IDR 5.06 trillion.
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Then, Bumi Serpong Damai recorded a business burden of IDR 2.53 trillion, consisting of sales profit of IDR 948.98 billion, general and administrative expenses of IDR 1.32 trillion and the final tax burden of IDR 263.41 billion. The amount of business expenses suffered slight decline from the previous one of IDR 2.59 trillion.
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From the other side of income, Bumi Serpong Damai recorded the results of IDR 472.08 billion. The position reverses from the previous year, where other income posts are precisely negative IDR 467.62 billion. This is because, along the 2019 BSDE booked an impact on the change of investment measurement on the association entity IDR 864.86 billion.
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The post did not record the results in the year 2018. Similar conditions are also list on the profit post revaluation of fair value investments in the entities recorded using the equity method on the date of acquisition of IDR 35.07 billion and the profit from the acquisition of subsidiary stock of IDR 21.93 billion.
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On the other hand, Bumi Serpong Damai total assets of 2019 were record at IDR 54.44 trillion, up from 2018, record at IDR 52.1 trillion. The amount of BSDE debt at the end of 2019 note IDR 20.89 trillion was reduce by IDR 21.81 trillion and the BSDE equity was record at IDR 33.55 trillion.