Tunas Baru targets 20% net income increase

JAKARTA: Lampung-based palm oil producer, PT Tunas Baru Lampung Tbk (TBLA), targets a net income of IDR200 billion by next year, up 20% from the estimated IDR160 billion net income this year.Deputy President Director of Tunas Baru Sudarmo Tasmin confirmed
News Editor | 22 Desember 2010 13:22 WIB

JAKARTA: Lampung-based palm oil producer, PT Tunas Baru Lampung Tbk (TBLA), targets a net income of IDR200 billion by next year, up 20% from the estimated IDR160 billion net income this year.Deputy President Director of Tunas Baru Sudarmo Tasmin confirmed that the target increase is in line with the 15.38% sales growth to IDR3 trillion from this year's estimation at IDR2.6 trillion.This optimism, as he added, is supported by the expectation for the sales volume increase in crude palm oil (CPO) to 180,000 tons and palm kernel oil (PKO) to 150,000 tons with the better weather forecast next year."We are targeting the bottom line to grow by 20% to IDR200 billion and the sales to reach IDR3 trillion. We hope CPO sales will rise 20%. So far the largest sales contribution comes from CPO products, besides there are also PKO," he said today.Meanwhile, during the first nine months of this year, the company posted a net profit decline by 47% to IDR124.04 billion compared to IDR233.36 billion at the same period last year.It was caused by the loss in sales volume by 9% to IDR1.92 trillion from Rp2.11 trillion and the increase in operating costs by 23% to IDR166.71 billion from IDR135.96 billion.Sudarmo also said the income in third quarter of 2010 fell due to the foreign exchange loss by 49% to IDR63.81 billion from IDR124.39 billion at the same quarter last year.(T03/NOM)

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Editor : Muhammad Fariz Aulia

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