JAKARTA (Yosefardi) – Plantation company PT Sampoerna Agro Tbk (SGRO) targets to book revenue of Rp3.07 trillion this year, a 20% growth compared to Rp2.56 trillion in 2013, Bisnis Indonesia reported this morning.
It targets to produce 324,000 tons of crude palm oil (CPO) this year, increased 20% from 270,000 tons last year. The average CPO price reached Rp8200 per kilogram last year and rose to Rp8800 in the first quarter of this year.
SGRO booked net profit of Rp119 billion last year, crashed by 64% from Rp329 billion in 2012 due to the squezzed margins. Sales revenue declined 16% to Rp2.5 trillion but gross profit slashed by 37%.
SGRO’s main buyers last year were PT Sumber Indah Perkasa, PT Sinar Alam Permai, and Cargill International Trading Pte Ltd, which accounted to 37% of total sales revenues. Its assets increased 9% to Rp4.5 trillion while liability jumped 23.3% to Rp1.8 trillion.
Riau Regional police (Polda) has recently named PT Nasional Sago Prima (NSP), subsidiary of SGRO, controlled by Sampoerna Family, suspect in forest fire incidents in Riau Province, which sent out smog to neighboring countries like Singapore and Malaysia.