JAKARTA – PT Austindo Nusantara Jaya Tbk (ANJT) recorded profit growth of 148.5% during 2020, making up for their losses of USD 64.48 million in 2019. This rebound performance is the effect of the increasing price of crude palm oil (CPO) since June 2020.
Naga Waskita, the ANTJ Director, stated that the CPO price once went down in March 2020 due to low consumer demand during the COVID-19 pandemic. However, it soared again following the economic recovery initiations.
“The average selling price for CPO in 2020 was at approximately USD 581 per tonne, growing 21.2% compared to the price in 2019, which was USD 479 per tonne. Meanwhile, the average selling price of palm kernel (PK) was recorded at USD 315 per tonne, showing a 20.7% increase from the previous price of USD 261 per tonne,” Waskita explained through information disclosure on Monday (29/3).
With these higher prices for CPO and PK, ANJT recorded revenue growth of USD 164.10 million, 25.9% higher than USD 130.35 million in 2019. The gross profit and the earnings also increased from USD 23.76 million to USD 40.08 million and USD 6.80 million to USD 17.58 million, respectively. (LK/ZH)