May 8, 2012

Gozco 1Q CPO sales volume up 5%

CPO Producer PT Gozco Plantations Tbk (GZCO), controlled by Indonesian businessman Tjandra Mindharta Gozali, reported 9,500 tons of CPO sales volume in the first quarter of this year, a 5% increase from 9,000 tons a year earlier.

In the term of value, Gozco booked Rp75.58 billion in sales, a 4% increase from Rp72.76 billion. Palm kernel sales value dropped 61% to Rp8,4 billion from Rp21.83 billion. 
In total, Gozco's sales declined 11% to Rp83.98 billion from Rp94.58 billion. The declines were driven by the decrease both in CPO ASP and palm kernel. CPO price slightly decreased 2%  to Rp7,955 per kg from Rp8,084 per kg, while palm kernel price plunged 40% to Rp4,428 per kg from Rp7,277 per kg. 
Tjandra Gozali, one of Surabayans' richest businessmen, was born in Jember, a small city in East Java, in 1952. 
Tjandra is also a brother of Henry J. Gunawan, which owns publicly listed property developer PT Surya Inti Permata Tbk (SIIP).
Tjandra's elder son namely Kreisna Dewantara Gozali is a husband of Jean Katuari, second daughter of Eddy William Katuari, one of owners and founders of Wings Group. Kreisna is also Director at Gozco Plantations.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: