For the FY2022, the group’s earnings stood at $343.6 million, 135.8% higher y-o-y, and an all-time high. The revenue growth was mainly driven by higher sales of commercial and industrial land parcels in BSD City and Kota Deltamas, Indonesia, as well as higher revenue recognised from residential units and commercial shophouses.
Sinarmas Land (SGX:A26
) has reported earnings of $216.1 million for the 2HFY2022 ended Dec 31, 2022, nearly 3.6 times higher than the earnings of $60.1 million in the corresponding period the year before.
The surge was due to the higher revenue for the period as well as a gain of $87.7 million upon the disposal of the group’s UK subsidiary, Horseferry Property.
