Jan 1, 2012

Bakrie Plantations 9M profit up 249%

Palm oil and oleochemical products maker PT Bakrie Sumatera Plantations Tbk (UNSP) reported a 249.25% jump in net profit at the end of September 2011.
The profit jump was a result of a strong growth in net sales, said Bakrie Plantations' September financial statement filed to Indonesia Stock Exchange on Friday last week.
Bakrie Plantations posted Rp713.69 billion net profit in 9M 2011 from Rp204.35 billion in 9M 2010, Operating profit rose 125.08% to Rp1.44 trillion from Rp640.10 billion.
Bakrie Plantations' gross profit increased 57.04% to Rp1.23 trillion from Rp783.95 billion. Net sales rose 76.72% to Rp3.34 trillion from Rp1.89 trillion. 
Bukit Mutiara's stake
At the end of September 2011, PT Bukit Mutiara suddently held 4.97% stake in Bakrie Plantations. PT Bakrie & Brothers Tbk owned 9.71% stake in Bakrie Plantations and Credit Suisse AG Singapore Branch S/A Long Haul Holdings Ltd held 3.16% stake.
However, the financial statement din not explain how Bukit Mutiara became one of Bakrie Plantations' shareholders.
Bukit Mutiara is owned by Recapital Advisors, who is controlled by Rosan Perkasa. Bukit Mutiara is also one of the shareholders in Bumi Plc.

Disclosure: No position at the stock mentioned above.  

Print This Article

No comments: