JAKARTA - PT PP London Sumatra Indonesia Tbk (LSIP) recorded sales of Rp2.18 trillion in 1H2021, rose 39% yoy mainly due to higher sales volume and average selling prices (ASP) of palm products. CPO and PK ASP increased 25% yoy and 56% yoy, respectively.
In 1H2021, Fresh Fruit Bunches (FFB) nucleus production grew 1% yoy to 616 thousand tonnes. Total CPO production increased 4% yoy to 164 thousand tonnes. As a result of higher production, CPO sales volume rose 8% yoy to 169 thousand tonnes while PK and PK related products sales volume increased 12% yoy to 47 thousand tonnes.
Lonsum posted a solid set of profitability performance in 1H2021 with gross profit Rp755 billion (+173% yoy), operating profit Rp610 billion (+692% yoy) and EBITDA Rp803 billion (+124% yoy). Profit for the period attributable to owners of the parent jumped 445% yoy to Rp501 billion mainly attributable to higher operating profit which partly offset by higher income tax expense.
Benny Tjoeng, the President Director of Lonsum commented, “In 1H2021, Lonsum recorded a strong financial performance mainly as a result of higher sales volume and average selling prices of palm products and also our efforts on cost control and efficiency.
Lonsum maintained its healthy financial position with total asset Rp11.61 trillion including cash and cash equivalents of Rp2.69 trillion and no bank loan as of June 30, 2021. (LM)