Property developer Lippo Karawaci (LPKR) suffered a loss of Rp2.06 trillion in 2019, against profit Rp1.66 trillion in 2018, due to higher cost of revenue, higher operating expenses, and other expenses. Revenue rose 9% to Rp12.18 trillion, while the cost of revenue increased by 24% to Rp7.72 trillion. Operating expenses grew 11% to Rp4 trillion, while other expenses rose 8.4% to Rp2.07 trillion. LPKR then booked an operating loss of Rp904 billion, against a profit of Rp1.94 trillion in 2018. Financial cost also jumped 54% to Rp904 billion from the previous Rp586 billion.

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