CPO producer PT BW Plantation Tbk (BWPT), that is controlled by Budiono Widodo, reported a 52% increase in net profit for the first quarter of this year as revenue rose.
BW Plantation posted Rp82.26 billion net profit in 1Q 2012 from Rp54.11 billion in 1Q 2011. EBITDA rose 39.6% to Rp102.05 billion from Rp142.41 billion, while its margin fell to 53.2% from 59.1%.
Operating profit increased 30.2% to Rp119.82 billion from Rp92.02 billion. However, operating margin steeply dropped to 44.8% from 53.3%.
Gross profit increased 31.2% to Rp163.18 billion from Rp124.34 billion, however its gross margin fell to 61% from 72%.
Operating profit increased 55.1% to Rp267.65 billion from Rp172.54 billion.
CPO production increased 8.2% to 27,426 tons from 25,347 tons, while fresh fruit bunch slightly increased 3.6% to 111,215 tons from 107,309 tons.
CPO sales volume soared 75.8% to 31,011 tons from 17,637 tons. BWPT's planted area was 62,699 hectares with mature and immature of 27,627 hectares and 35,072 hectares respectively.
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