SINGAPORE (Feb 24): Bumitama Agri announced 4Q earnings of IDR 461.58 billion ($48.8 million), about 2.5 times of the IDR 184.67 billion a year ago on higher revenue.
This brings the Indonesian oil palm plantation company's earnings for the full year to IDR 1 trillion, up 40.8% from the IDR 713.7 reported in FY15.
In a Friday filing to the SGX, the group primarily attributes the improved performance higher revenue, higher interest income, gain from fair value changes in biological assets, and lower loss from associate companies.
