CPO producer PT BW Plantation Tbk (BWPT) today reports that the company booked a 20.5% jump in net profit in the first quarter this year.
BW Plantation's CPO sales volume reached 15,931 tons in Q1 2010, a 17.9% drop from the same period last year of 19.410 tons.
In line with the lower sales volume, CPO production fell 17.1% to 16,802 tons in Q1 2010 from the same period last year of 20,278 tons as well.
BW's operating profit dropped 19.1% from Rp59.77 billion in Q1 2009 to Rp48.35 billion in Q1 2010, lowering operating margin from 53,1% to 43.7%.
BWPT booked Rp34.78 billion in net profit in Q1 2010 from the same period last year of Rp28.87 billion. Revenue posted a slight decrease of 1.7% from Rp112.64 billion in Q1 2009 to Rp110.76 billion in the first quarter this year as lower CPO production on high rain.
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