Astra Agro's H1 profit reaches Rp 1.27 trillion

JAKARTA - PT Astra Agro Lestri Tbk (AALI) reported a net profit of Rp 1.27 trillion during the first half of this year, up by 99.5 percent from Rp 636.5 billion during the same period last year.

The company announced on Thursday that due to the increase of crude palm oil (CPO) sales volume and prices, its income has also climbed by 50.6 percent from Rp 3.5 trillion during first half of last year to Rp 5.3 trillion during first half of this year.

“Our CPO sales during the first half this year rose by 18.7 percent from 477,600 tons to 566,800 tons. CPO prices increased by 21.6 percent from Rp 6,590 per kilogram to Rp 8,013 per kilogram,” PT Astra Agro Lestari’s Investor Relations, Yarmanto, said in Jakarta.

He added that during the first half of this year his company has realized a capital spending of Rp 817.2 billion, of which 50 percent was used for maintaining already planted areas and planting new areas,  and the rest for developing palm oil plants and seaports.

The company has also increased its intensification programs in order to raise the production of fresh fruit bunches. The intensification programs include maintenance, fertilization,  and mechanization. Until June this year, its total plantation areas reached 263,950 hectares, of which 220,000 hectares have been in production.(*)