JAKARTA. PT Indo Oil Perkasa Tbk (OILS), a palm oil manufacturer, sets a double-digit growth target in 2023, approximately 20% in sales and 71.4% in net profit. This objective is decided after seeing how the performance of the company improves throughout this year.
Johan Liem, Director of OILS, said that in 2023, the company’s performance will be highly satisfactory, continuing the trend in 2022 that showcases a significant increase in sales and high profit margin. On the other hand, he realised that CPO production might be hindered due to obstruction in land procurement, resulting in the halt of massive planting ordered by the government. Liem explained this information in the public expose yesterday (27/10).
Liem projected sales of OILS to reach IDR 605 billion or growing approximately 20% from this year’s target of IDR 504 billion. The net profit in 2023 is also targeted to arrive at IDR 24 billion, proliferating 71.4% from this year’s target of IDR 14 billion.
According to Liem, the issue in land procurement for CPO production will be countered by the potential of land for CNO production, which is provided easier than the land for CPO production. He also observes how the global demands for vegetable oil continues to rise, which allows the management to gain optimism in the future years’ business prospects. (AM/ZH)