Bumitama Agri posts 51.9% higher earnings for 2H20 of $64.3 mil on higher revenue, fair value changes

Bumitama Agri Limited (BAL) has posted earnings of IDR685.14 billion ($64.3 million) for the 2HFY2020 ended December, 51.9% higher than earnings of IDR451.07 million in the corresponding period the year before.

For the FY2020, earnings surged 64.1% to IDR1.13 trillion, from IDR686.31 million a year ago.

Revenue for the 2HFY2020 grew 20.4% y-o-y to IDR5.10 trillion, while FY2020 revenue increased 18.3% y-o-y to IDR9.10 trillion due to higher average selling prices (ASPs) of crude palm oil (CPO) and palm kemel (PK).