Palm oil producer PT Tunas Baru Lampung Tbk (TBLA) is scouting a Rp500 billion net profit this year, a 18.76% higher than Rp421 billion last year.
The profit increase, as quoted by Kontan today, will be underpinned by revenue growth. TBLA estimated to post Rp4 trillion revenue or a 7.18% increase from Rp3.73 trillion last year. "When all factors are in stable position, we are optimistic to achieve our target," said Vice President Director Sudarmo.
To fulfill the target, Tunas Baru will plant 4,000 hectares-5,000 hectares of land with investment of Rp200 billion-Rp300 billion this year.
Disclosure: No position at the stock mentioned above.
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