Dec 3, 2011

Bakrie Plantations eyes 50% rise in revenue

CPO player PT Bakrie Sumatera Plantations Tbk (UNSP) is scouting a 43%-50% increase in revenue this year from Rp3 trillion revenue last year.
To realize the target, it is dependent on the price of CPO in the market. "The growth in the last quarter can be similar to the previous quarters," said Harry M. Nadir, Finance Director, as quoted by Kontan daily today. 
As of September 2011, the company booked a 76.72% jump in revenue to Rp3.34 trillion from Rp1.89 trillion in 9M 2010.
Gross profit rose 57.84% to Rp1.24 trillion from Rp782.95 billion, while operating profit surged 125.08% to Rp1.44 trillion from Rp640.10 billion. Bakrie Plantations's net profit soared 161.91% to Rp516.07 billion from Rp197.04 billion.

Disclosure: No position at the stock mentioned above.

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