Cost of sales grew 10.8% to IDR1.4 trillion from IDR1.6 trillion and mainly comprised costs for plantation maintenance, harvesting, plantation overhead, depreciation and amortisation, milling, and fresh fruit bunches (FFB) purchased externally including plasma and third parties.
SINGAPORE (May 8): Bumitama Agri (BAL) reported a 16.8% decline in 1Q earnings to IDR231.8 billion ($21.7 million) from IDR278.4 billion on lower revenue and compressed margins.
Revenue for the quarter fell to IDR1.9 trillion on the back of lower crude palm oil (CPO) and Palm Kernel (PK) prices, which fell by 7.6% and 21.5%, respectively.
