23 July 2008 08:19 [Source: ICIS news]
SINGAPORE (ICIS news)--Indonesian crude palm oil (CPO) producer Sampoerna Agro has reported a near tripling of its first-half sales to rupiah (Rp) 1,498bn ($164m) from Rp541bn year on year due to higher product prices and strong sales, it said.
The company’s phenomenal revenue growth was largely due to significantly higher product prices and strong sale volume across CPO markets in the recent past.
In its monthly newsletter released late on Tuesday, the company said that the average selling price of CPO increased 56% from Rp5.17m/tonne to Rp 8.09m/tonne this year.
The company had received location permits for an additional 11,770 hectares in Ketapang, west Kalimantan bringing its total landbank to 197,729 hectares, it said.
Looking ahead, Sampoerna intended to remain focused on organic expansion and did not rule out acquisition of other plantation companies if the location, size, quality and price were conducive, it added.
($1 = Rp 9,143)
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