JAKARTA - PT Astra Agro Lestari Tbk (AALI) posted Rp 9.02 trillion in net revenue in the first semester of 2018, a 5.6% hike from the same period last year at Rp 8.55 trillion. The increase was boosted by the hike in sales volume of the company’s CPO (crude palm oil) products and its derivatives by 19% or 159 thousand tonnes.
However, the average sales price of CPO in the first semester was down 7.5% from Rp 8,536 per kg to Rp 7,893 per kg. The drop caused the decline in the company’s operating profit by 28.5% from Rp 1.52 trillion to Rp 1.09 trillion. As a result, the company’s net profit in the first semester fell 24.9% from Rp 1.04 trillion in the same period last year to Rp 784 billion.
Still, the company’s operating profit in the second quarter of 2018 was up 33% to Rp 620 billion from Rp 466 billion in the first quarter. The operating profit also increased 55% from the same period last year at Rp 400 billion.
“The increase in operating profit impacted the company’s net profit growth in the second quarter of 2018 that grew 20.5% compared to the first quarter of 2018, from Rp 355 billion to Rp 428 billion, and the company’s net profit also increased 76.6% compared to the second quarter in the previous period at Rp 243 billion,” said Astra Agro Vice President Director Joko Supriyono in a press conference at the Indonesia Stock Exchange, Tuesday (28/8).
Currently Astra Agro has 31 palm oil factories with a total capacity of 1,510-tonne tBS per hour. The company also operates two CPO refineries in West Sulawesi and Dumai, Riau with a total capacity of 3,000 CPO tonnes per day. (MS)