Sinarmas Land

Sinarmas Land: 4Q13 net profit climbed 3% y/y to $64.4m, while revenue accelerated 11% to $202.3m, taking FY13 earnings to $252.5m (+124%) and revenue to $985m (+56%), mainly contributed by higher sales of land parcels in BSD City, higher revenue from sales of completed residential units in BSD City and Shenyang, China and improved average selling prices, mitigated by the weaker Rupiah/SGD. Consequently, gross profit margin improved significantly from 58.6% to 70.2%. Group declared first and final DPS of 0.5¢, compared to FY12's 0.38¢.