Feb 21, 2011

Sampoerna Agro FY10 CPO sales up

Palm oil producer PT Sampoerna Agro Tbk (SGRO) estimates to post a slight growth in CPO sales volume last year. The company  posted a 4% increase in CPO sales volume to 274,726 tons last year from 264,160 tons in the previous year.
As quoted by Kontan today, Sampoerna Agro is optimist that its financial performance last year may improve last year as average selling price rose as well.
Sampoerna Agro's Head of Investor Relations Michael Kesuma said CPO ASP last year rose 7% to RM2,748 per ton. However, he declined to further explain of revenue and net profit last year.
The company plans to enlarge its planted area to 10,000 hectares or 50,000 hectares within 5 years. Sampoerna Agro currently manages 100,000 hectares of plantation area, including core and plasma.

Disclosure: No position at the stock mentioned above.

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