JAKARTA (Yosefardi) – PT Tiga Pilar Sejahtera (TPS) Food Tbk (AISA) expects to have a 30% growth in revenues this year after debt settlement for forein currency denomination and divesting palm oil asset/company.
In first half of 2016, AISA booked profit attributable to equity of Rp255.96 billion, a 30.6% growth, compared to Rp195.96 billion in the corresponding period of 2015. Revenues grew by 13% to Rp3.15 trillion.
Rice mills segment contributed 65% revenues, food processing contributed 35%. Divestment of plantation unit, Golden Plantation, helped, but as CPO prices returned to above US$700 per ton in Rotterdam, TPS Food won’t get upside from further recovery in the sector.
AISA also recorded foreign exchange (forex) gain of Rp50.14 billion. The Company had issued Islamic bonds (syariah/sukuk) worth Rp1.2 trillion.