JAKARTA: A property company PT Perdana Gapuraprima Tbk recorded net revenue of IDR81.95 billion in the first quarter 2011, a slight decrease of 4.70% compared to the same period in 2010.The companys operating income also slipped 25.98% to IDR16.27 billion due to cost of goods sold and operating expenses increasing.Meanwhile, the company posted 18.10% decline in net profit.Its asset retreated 11.26% to IDR1.23 trillion as of March 31, 2011, whilst its liabilities descended 23.70% to IDR604.04 billion.The company now is doing The Sun Heritage Condotel project in Bali with SUN Motor Group amounting to IDR150 billion. The project is scheduled to finish in December 2011.The GPRA-coded stock gained 2.54% or IDR3 to IDR121, the highest gain in three weeks, at the Jakarta Stock Exchange as of 3.32 p.m. local time. (msw)

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