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Rosy quarter ahead for Bumitama Agri

Samantha Chiew
Samantha Chiew11/15/2017 10:34 AM GMT+08  • 2 min read
Rosy quarter ahead for Bumitama Agri
SINGAPORE (Nov 15): RHB is maintaining its “buy” call on Bunitama Agri with a target price of 95 cents, after the group recorded strong 3Q17 results.
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SINGAPORE (Nov 15): RHB is maintaining its “buy” call on Bunitama Agri with a target price of 95 cents, after the group recorded strong 3Q17 results.

The group saw earnings increase 29% to IDR266.3 billion ($26.4 million) in 3Q17 from IDR 206.4 billion last year.

Revenue for the quarter increased 37.2% to IDR2.05 trillion from IDR1.49 trillion a year ago, due to improved palm oil and palm kernel production as well as higher average selling price.

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