18 September 2019

Flat Growth, Metland Still Optimistic to Achieve Targets

PT Metropolitan Land Tbk (MTLA) in the first semester of 2019 posted revenues of Rp.598 billion, up slightly from the previous year in the same period of Rp.596 billion. MTLA's net profit in the first semester of 2019 was amounted to Rp210 billion, down from Rp234 billion in the first semester of 2018, "The Company's profit decreased because last year the Company sold commercial lots so the margin was larger," said Olivia Surodjo, Director of PT Metropolitan Land Tbk. the public expose regarding performance then followed by the Company's plan for ongoing project development (18/9).

Metland Cileungsi and Metland Cibitung are the largest contributors to the Company's sales revenue. "Sales of middle to middle low class homes are still quite good and are not affected by the election issue at the beginning of the year," Olivia added. While the Company's recurring income is still driven by Metropolitan Mall Bekasi and Metropolitan Mall Cileungsi.

The Company's revenue from marketing sales as of July 2019 was Rp1.13 trillion or 52% of the 2019 target. The revenue was contributed from property sales of Rp841 billion and recurring income of Rp293 billion. "We are optimistic that the marketing sales target of Rp.2.2 trillion will be achieved at the end of the year," said Thomas J. Angfendy, President Director of PT Metropolitan Land Tbk.

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