INPP - PT. Indonesian Paradise Property Tbk

Rp 975

-15 (-1,52%)

JAKARTA – PT Indonesian Paradise Property Tbk (INPP) views 2023 optimistically after scoring significant increases in its revenue and gross profit in Q1 2023. At the end of 2022, INPP also managed to record 123% year-on-year (yoy) increase in its revenue, as well as 65% yoy surge in its net profit.

“Our performance in 2022 was brilliant, and with the support of the macroeconomic condition, we are confident of being able to double our net profit in 2023,” Surina, Director of INPP, explained.

Accordingly, INPP’s impressive track record continues to the first quarter of 2023. The revenue soared 96% yoy to IDR 262.67 billion, allowing it to post a net profit of IDR 27.8 billion and eliminating the loss of IDR 23.7 billion recorded in Q1 2022.

After the pandemic crisis subsided, the number of guests of Sheraton Bali Kuta Resort, HARRIS Suites at fX Sudirman, and Beachwalk Residence owned by INPP increases. The management then predicts that this number will continue to rise, especially in the upcoming holiday weeks. INPP is currently waiting for additional revenue from Rooftop 31 Sudirman Suites in Makassar, which was just inaugurated last May, as well as the topping-off of Antarsari Place in South Jakarta.

In the future, the company is exploring opportunities to build and operate various destinations across the country, including Balikpapan, Makassar, and Semarang. With this plan on hand, plus its ability to generate recurring income from its own properties, INPP is determined to target two-fold increase of its net profit at the end of 2023. (ZH)