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Eagle Plantations aims for better CPO sales in 2016
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Eagle High Plantations investor relations head Sebastian Sharp speaks at a press conference after the company's annual general shareholders meeting on Thursday in Jakarta. (thejakartapost.com/Sepsha Dewi R.)
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agle High Plantations is optimistic about reporting a better financial performance this year, after Rp 181.4 billion (U$13.5 million) in losses in 2015.
The company’s president director Nicolaas B. Tirtadinata said the poor performance last year was due to the low selling price of crude palm oil (CPO), the long dry season and high interest rates.
“This year, Eagle will reduce land development to save capital and allocate more funds to increase plant capacity projects,” he said in Jakarta on Thursday.
As a result, he said, the publicly listed palm-oil producer had booked Rp 620 billion in revenue in the first quarter of the year.
Nicolaas said the company saw a positive performance after the firm’s production increased because of productive crops and better CPO prices. (sha/ags)
