JAKARTA (Yosefardi) – State plantation firm PT Perkebunan Nusantara (PTPN) V only booked net profit of Rp26 billion in the first half of 2015, far below its full year target of Rp259 billion.

The poor achievement is mainly due to the drop in crude palm oil (CPO) prices, reaching Rp7000/kg in July 2015. In the first half of 2014, PTPN V booked net profit of Rp119 billion.

As at December 2014, its assets totaled Rp5.46 trillion while liability amounted Rp3.36 trillion. It has cash and cash equivalent of Rp308.68 billion.