Property developer Lippo Karawaci (LPKR) reported a 36% drop in net profit for the first half (H1) of 2016 due to the increased operating cost. The Company booked profit attributable to equity of Rp497.79 billion for the period. Revenues grew by 7.62% to Rp5.1 trillion but operating cost jumped 26% to Rp1.32 trillion. The Company’s operating profit dropped 15.3% to Rp1.04 trillion. Higher interest expenses and promotion costs also impacted on the lower profit growth.
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