Sep 21, 2011

BW Plantation 8M CPO output up 44.15%

Palm oil producer PT BW Plantation Tbk (BWPT), a company that is controlled by Indonesian businessman Budiono Widodo, reported a 44.15% increase in CPO production volume in the first 8 months of this year,
The company produced 77,642 tons of CPO in 8M 2011 from 53,862 tons in 8M 2010. BW Plantation reported a 35.25% increase in fresh fruit bunch (FFB) to 320,274 tons in 8M 2011 from 236,802 tons in 8M 2010.
In the first half of 2011, BW Plantation reported a 99.4% increase in net profit for the first 6 months of this year due to higher CPO sales volume.
BWPT booked Rp170.55 billion in 1H 2011 from Rp85.55 billion in 1H 2010. Net margin increased to 35.8% from 31%. In line with the robust bottom line, BW Plantation's operating profit jumped 122% to Rp275.05 billion from Rp123.87 billion. In return, operating margin rose to 57.7% from 44.9%.
Gross profit rose 98.8% to 327.64 billion from Rp164.84 billion. Revenue increased 73% to Rp476.95 billion from Rp275.67 billion.
CPO sales volume rose 35% to 53,248 tons from 39,438 tons with average selling price of Rp7.77 juta per ton, a 19.4% higher than Rp6.50 million per ton.
BW Plantation's added new planting of 4,418 hectares. Total planted area was 56,476 hectares of the total land bank of 93,000 hectares.

Disclosure: No position at the stock mentioned above. 

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