JAKARTA – PT Sampoerna Agro Tbk (SGRO) records an impressive sales growth of 66% in the first half of 2021 compared to the gain in the same period last year. It is driven by the increasing production of crude palm oil (CPO) and its selling price in the international market.
Budi Halim, CEO of Sampoerna Agro, claims to score IDR 2.66 trillion in sales, growing from IDR 1.6 trillion. Meanwhile, its current profit also proliferates from IDR 4.94 billion to IDR 395.84 billion.
Furthermore, these gains are visible in all product segments. They include palm oil sales, increasing from IDR 1.34 trillion to IDR 2.21 trillion; palm kernel sales from IDR 162.08 billion to IDR 314.04 billion; and palm sprouts from IDR 33.68 billion to IDR 73.33 billion. “The CPO and palm kernels contribute 95% of the consolidated sales,” Halim confirms in a press release, quoted Friday (30/7).
According to Halim, these improvements also coincide with the higher average CPO selling price, jumping 19% from IDR 8,300 per kg last year to IDR 10,000 per kg. Palm kernel selling price is also 47% higher, from IDR 4,500 per kg to IDR 6,660 per kg, while the palm sprouts go from IDR 7,900 per unit to IDR 8,400 per unit. “We are convinced that the palm oil price would stay at a more advantageous level as the palm oil global supply has not been fully recovered since the beginning of the year,” Halim claims. (LK/ZH)