Jakarta. Leading real estate and healthcare platform Lippo Karawaci (LPKR) has achieved a net profit of Rp 1.1 trillion ($72.9 million) in the first half of 2023, which reflected a significant turnaround from a net loss of Rp 1.2 trillion in the same period last year. 

Its revenue rose by 19 percent year-on-year to Rp 8.1 trillion while gross profit also increased by 21 percent YoY to Rp 3.5 trillion, according to the financial report published on Monday.

Second quarter results saw Rp 12 billion net profit “without any extraordinary events affecting its results”, Lippo Karawaci Group Chief Executive Officer John Riady said. “This achievement marks the first positive net profit since Q1-2019 that was solely driven by the improved fundamental performance of the business.”

In the real estate segment, LPKR achieved a marketing sale of Rp 2.48 trillion, supported by a diverse product offering and consistent product launches. This accomplishment fulfills 50.6 percent of the annual marketing sales target of Rp 4.9 trillion.

LPKR’s healthcare segment, operated by its subsidiary Siloam International Hospitals, maintained strong financial growth momentum during the first half of 2023. In this period, the revenue from the healthcare segment grew by 20 percent YoY, driven by a robust recovery in non-Covid-19 related revenue, increased patient volumes, and the improved adoption of Siloam’s digital channels, which provide easier access for patients.

"We proudly present our performance during the first semester of 2023, reflecting the success of our turnaround efforts. This accomplishment demonstrates the improved fundamental performance of all our business units. We expect this positive trend to continue going forward,” John said. 

“As we enter the third quarter of 2023, we remain committed to offering new and diverse products to meet various pockets of demands while maintaining timely product deliveries and sustaining the strong growth in our healthcare and lifestyle businesses."