Deleveraging COGS, Leveraging Margin
In 3Q18, SMRA cheered its outstanding performance, e.g., the growth of 3.6% y-y to IDR1.36 trillion—the highest growth figure since 2Q17—bolstering the surge of 76.9% y-y in 3Q18 net profit. Besides, the downbeat COGS, particularly in the landed house segment, continues further since 2Q18 and is likely to buoy SMRA’s margin in FY18.
10M18 Marketing Sales to Hit 60.1% of Target
Until the end of 2018, SMRA posted the marketing sales of IDR2.40 trillion (+4.7% y-y) or equal to 60.1% of FY18 target. The launch of 3 residential clusters in the existing areas and two residential clusters in a new township, i.e., Summarecon Mutiara Makassar are the backbone of the year-end marketing sales. SMRA is capable of securing IDR180 billion and IDR125 billion from the launch of residential clusters in Serpong and Bandung. Although consumers’ interest in SMRA’s products are high, the limited number of new projects hinder SMRA to achieve the target of FY18 marketing sales.
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