Extended Value Added Tax Incentive Drives Performance of PT Bumi Serpong Damai Tbk
PT Bumi Serpong Damai Tbk (BSDE), the developer of the independent township of BSD City, will benefit from the addition of VAT incentives until June 2022. The company is expected to be ready to spur residential sales performance and aim for higher net profit.
Samuel Sekuritas Indonesia (SSI) analyst Olivia Laura Anggita explained that BSD's performance growth was already visible in the third quarter of 2021. The company recorded revenue of Rp 1.9 trillion or grew 21% compared to the previous quarter. A total of 82% was contributed from the sale of land, buildings and property rights (strata title). Although BSD's rental income decreased by 17 percent in the second quarter, revenue from construction shot up to 37 percent. On a quarterly basis, in the third quarter of 2021, the company recorded a gross profit growth of 16 percent to Rp 1.1 trillion. “The company's net profit also increased by 173 percent in the third quarter to Rp 250.8 billion. Artificially, BSD's net profit grew 154% yoy to Rp 930.8 billion until September 2021," Olivia said in her research in Jakarta.
|•SOURCE•| Articles :INVESTOR | Image :ALINEA |
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