Apr 8, 2011

BW Plantation 1Q FFB output up 51%

PT BW Plantation Tbk (BWPT), a producer of crude palm oil (CPO), today reported a 51.26% jump in fresh fruit bunch (FFB) production at end of March this year.
In a monthly production data, BW Plantation produced 110,748 tons FFB in the first quarter of this year from 73,217 tons FFB in the same period of last year. CPO production in 1Q 2011 reached 25,347 tons, a 50.86% increase from 16,802 tons.
The company recorded a 45.45% jump in net income last year. The growth in profit was in line with the increase in operating income and the decrease in operating expenses.
BW Plantation, which is controlled by Tjipto Widodo, the fourth son of Budiono Widodo, recorded net income of Rp243.59 billion last year, increasing from Rp167.47 billion in the previous year.
Operating profit gained by 43.33% to Rp371 billion from Rp258.84 billion, making operating profit margin broke 52.09%, jumping from 44.31%.
The gain in operating profit was also caused by a 9.42% decrease in operating profit to Rp96.18 billion from Rp106.18 billion.
Gross profit of BW Plantation rose 27.99% to Rp467.18 billion from Rp365.02 billion. Operating income of the company grew by 21.92% to Rp712.17 billion from Rp584.11 billion.

Disclosure: No position at the stock mentioned above.
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