Apr 28, 2011

BW Plantation 1Q profit rises 68.15%

PT BW Plantation Tbk (BWPT), an Indonesian oil palm plantation company that is controlled by Widodo family, posted a 68.15% increase in net profit to Rp54.11 billion in first quarter 2011 compared to Rp32.20 billion in same period last year.
The company’s financial statement as of March 31, 2011, shows the increased profit was contributed by revenue that reached 55.8% higher to Rp172.54 billion compared to Rp110.76 billion at same period last year.
The company’s gross profit significantly increased 86.6% to Rp124.34 billion in first quarter 2011 compared to same period in 2010 at Rp66.64 billion.
The company will distribute dividend at Rp9 per share for book year of 2010 totaled Rp36.54 billion or 10% of the total net profit in 2010 at Rp243.6 billion.
The dividend payout ratio has been approved by the shareholders in the annual general meeting of shareholders held today.
About Rp203.3 billion will be put as retained earnings while the remaining of Rp3.8 billion for reserves, BW Plantation Corporate Secretary Kelik irwantono said.
“The payment time is still being arranged but clearly it will be conducted this year,” he said after the annual meeting. 

Disclosure: No position at the stock mentioned above.
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