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Sampoerna Agro revenues rebound in first half
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A worker checks fresh oil palm fruit bunches being transported on a truck in Pangkalan Bun, East Kalimantan. (JP/Dhoni Setiawan)
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ublicly listed plantation firm Sampoerna Agro (SGRO) booked Rp 1.6 trillion (US$120 million) in sales, a 49.5 percent year-on-year (yoy) increase as of June, its unaudited financial report shows.
This was in contrast to the condition in same period last year, when its sales revenue declined by 18.3 percent to Rp 1.07 trillion because of falling palm oil prices.
The growth came from a rebound in palm oil prices and an increase in sales volume, said the firm's head of investor relations, Michael Kesuma, in Jakarta on Monday.
“Financial performance in the first half shows a positive trend thanks to an increase in commodity prices and sales volume,” he said at a media conference at the Indonesia Stock Exchange on Monday.
Read also: Sampoerna Agro pays US$1.93 million dividendsPalm oil was the largest contributor to total revenue. It contributed Rp 1.2 trillion or 41 percent yoy growth thanks to a 14 percent increase in sales volume and 24 percent increase in price to Rp 8,555 per kilogram.
Kernel oil contributed Rp 240.97 billion in sales or a 101 percent increase thanks to a 33 percent increase in sales volume and 51 percent selling price hike to Rp 8,028 per kilogram.
Recovery was also seen in net profit, surging to Rp 174.15 billion during the period compared to Rp 84.22 billion losses in the same period last year. (bbn)
