JAKARTA: PT Sentul City Tbk, a national property developer, recorded IDR61.17 billion net profit throughout the first half of this year or 126% higher from a year earlier at IDR27.04 billion.Based on the companys financial statement that released today, Sentul Citys revenue slightly decreased to IDR167.73 billion from IDR168.40 billion.Such decline didnt erode the companys profit since its cost of goods sold was eroded by 37% to IDR59.23 billion from previously IDR94.22 billion. Thus, the gross profit rose 46% to IDR108.51 billion while its operating expenses grew 12% to IDR40.69 billion.The publicly-listed company prepares IDR300 billion capital expenditure this year, which derives from rights issue and warrant issuance totaling to IDR1.85 trillion. As planned, 70% of the capex will be used for residential and infrastructure projects.Sentul City was established in 1993 under the name of PT Sentragriya Kharisma, which then renamed to PT Bukit Sentul Tbk and renamed again in 2006 to Sentul City. PT Citra Kharisma Komunika owned 34.64% stake in the company, followed by Athena Offshore Holding Ltd and PT Bakrieland Development Tbk 5.26%, and public 45.98%. (t06/msw)

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