JAKARTA (Yosefardi) – Plantation giant PT Astra Agro Lestari (AALI) Tbk booked net profit of Rp156 billion in the first quarter of 2015, collapsed 80% from the corresponding period of 2014.Astra Agro Lestari, subsidiary of Astra International (ASII), suffered from falling prices of crude palm oil (CPO). Its sales revenue dropped 13.2% in the first quarter, while gross profit tumbled 36.8% toRp764 billion.
Both general & administrative and selling expenses grew in the period. AALI also suffered Rp246 billion non-cash loss in foreign exchange translation against gain of Rp165.7 billion in the same period of 2014.