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Astra Agro Lestari's net profit declines by 26.9%

15 April 2019 01:21 PM  Company: PT. Astra Agro Lestari Tbk[AALI]
Rp. 10,400  +100 (0.97%)

JAKARTA. The net profit of PT Astra Agro Lestari Tbk (AALI) declined by 26.9% from Rp 1.97 trillion in 2017, to Rp 1.44 trillion in 2018.

Santosa, President Director of AALI, said the decline in net profit was mainly due to the fluctuations in the price of Crude Palm Oil (CPO). He also admitted that in 2018, the company's performance was suppressed by negative CPO usage campaigns. "The trend is unfavourable, moreover there are negative campaign issues," Santosa said on Monday (15/4) when met by idnfinancials.com.

AALI's net profit also fell by 6.4% in 2017 to Rp 1.91 trillion, from Rp 2.17 trillion in 2016. Nevertheless, Santosa said he was optimistic that the company's performance could improve this year. He claimed that his party had also diversified its business, such as cattle farms.

Even though its net profit fell, AALI noted that its net income showed a positive trend. AALI's net income in 2018 was recorded at Rp 19.08 trillion, while in 2017 it was Rp 17.3 trillion, and in 2016 it was Rp 14.12 trillion. (KR/AR)

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PT. Astra Agro Lestari Tbk [AALI]   Rp. 10,400   +100 (0.97%)