JAKARTA. PT Mahkota Group Tbk (MGRO) recorded significant growth in its financial performance, after acquiring a palm oil mill owned by PT Mahkota Andalan Sawit through its subsidiary.
The acquisition was carried out by PT Berlian Inti Mekar, an entity which is 99.99% owned by MGRO. Elvi, Corporate Secretary of MGRO, said that this had a positive impact on the company's operational and financial performance.
"With the capacity of fresh fruit bunches (FFB) per hour and the production of CPO or Palm Kernel which is relatively the same as our other mills, of course the amount of MGRO's consolidated income and profit will also increase," Elvi said as reported by Kontan on Tuesday (19/11) today.
MGRO is optimistic that the acquisition will strengthen the company's downstream production. By the end of September 2019, MGRO's revenue had reached Rp 1.37 trillion, still quite far from the company's target of Rp 5.66 trillion. (KR/AR)