Dec 13, 2010

Bakrie Plantations eyes Rp4 trio revenue

Palm oil producer PT Bakrie Sumatra Plantations Tbk (UNSP) is eyeing Rp4 trillion revenue in 2011, a 30% increase from this year's target of Rp3 trillion.
Bakrie Plantations CEO Ambono Janurianto said with the target estimation this year, the company's revenue in 2011 is estimated 30% higher than their position at the end of this year of Rp3 trillion.
“30% is the minimum target. We sure could be above the figure and more less the same for EBITDA,” as he said.
The full year target is an increase of 58.22% from 3Q/2010 revenue which booked at IDR1.89 trillion.
For next year, he continued, Bakrie Plantations might have an additional income source from oleochemicals and palm seedlings sale sectors.
Oleochemical business was acquired after the acquisition of Dombamas Grup which partially completed at the third quarter of this year. Palm seedlings sale conducted through company cooperation with Costa Rika-based ASD.
Bakrie Plantations Director Howard J. Sargeant said the company is predicted to collect 300.000 tons on CPO sales or rose 50% than 200.000 ton in the end of 2010. The 2010’s target is 14.66% higher than 174.417 ton in Q III/2010.

Disclosure: No position at the stock mentioned above.

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