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Bumitama 1Q earnings rise 21.4% to $29.3 mil on higher revenue

Michelle Zhu
Michelle Zhu5/15/2017 5:54 PM GMT+08  • 2 min read
Bumitama 1Q earnings rise 21.4% to $29.3 mil on higher revenue
SINGAPORE (May 15): Bumitama Agri reported 1Q earnings of IDR 278.4 billion ($29.3 million), 21.4% higher than the same quarter a year ago.
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SINGAPORE (May 15): Bumitama Agri reported 1Q earnings of IDR 278.4 billion ($29.3 million), 21.4% higher than the same quarter a year ago.

Revenue grew 40.7% to IDR 2.1 trillion from IDR1.5 trillion in the previous year, which was attributable to the higher sales price of palm products as well as biodiesel compared to the previous corresponding period.

Notably, revenue from the group’s crude palm oil (CPO) and palm kernel (PK) segments grew 34.6% and 78.7% to IDR 1.7 trillion and IDR 331.8 billion respectively.

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