JAKARTA - PT Perkebunan Nusantara (PTPN) V, part of State Owned Enterprises’ (SOEs) holding Perkebunan PTPN III, announced a revenue growth of 27% in 2020, to IDR 5.3 trillion.

Jatmiko K Santosa, Chief Executive Officer of PTPN V, said that the growth was supported by the company's transformation efforts in the last 2 years. "Since 2019 we have planted a strong foundation to change PTPN V to a better direction," he stated in a press release received by idnfinancials.com today.

Santosa added, PTPN V's revenue in 2020 was recorded at 14.37% above the target requested by shareholders, which was IDR 4.6 trillion. From the total revenue, PTPN V recorded the company's Net Profit Margin (NPM) position at 7.6%, with an after-tax profit position of IDR 405 billion.

This revenue was also supported by the production performance of Fresh Fruit Bunches (FFB) which reached 1.59 million tons. In addition, the production levels of Crude Palm Oil (CPO) and Palm Kernel Oil (PKO) were recorded at 544,010 tons and 107,875 tons, respectively. (KR/VA)