Property developer Ciputra Development (CTRA) booked a net profit of Rp1.3 trillion in 2020, grew 7% year on year (y/y) as revenue rose 6.578% to Rp8.1 trillion. Sales of residential and shophouses grew 21% to Rp4.64 trillion, and apartment sales rose 23.5% to Rp1.08 trillion. Operating profit increased 18% y/y to Rp2.6 trillion. While finance costs rose 35.7% to Rp1.2 trillion, eroding its bottom line.
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