Palm Oil Production Contributes to PTPN III Net Profit Increasing

The Company has successfully posted a net profit of Rp921.3 billion for the period from January to October, after suffering a loss of Rp805.6 billion during the same period the previous year. The main factor behind this jump in bottom-line performance is increased productivity in palm oil production.

`During the 10-month period, the Company has recorded at least Rp28.2 trillion in sales, showing a 4.9% annual increase. During the period, palm oil production was recorded at 1.9 million tons, up by 12% from the volume for the same period in the previous year, with palm oil accounting for 64% of our sales,` said President Director of PTPN III, Dasuki Amsir, to the press in Jakarta on Monday, 20 November 2017.

Based on the company's data, there was an increase in productivity at our palm oil plantation, from 2.9 million tons CPO per hectare to 3.2 million tons per hectare. Furthermore, yield of palm kernel oil saw a slight increase from 0.56 to 0.58 tons per hectare.

The combined surface area of the 14 PTPN palm oil plantations is recorded as 469,000 hectares. Given this performance, PTPN III has projected that palm oil production until the end of the year will be between 2.1 million tons and 2.2 million tons.

Nevertheless, this is still below the target that was set early in the year at 2.4 million tons. Given this estimate, the company projects that its revenue by the end of the year could reach Rp33 trillion.

Source : www.industry.co.id