- Bumitama Agri’s 2H23 results came in within expectations with strong sales volume and CPO production. With the increasing milling capacity, Bumitama Agri would maintain its high portion of FFB external purchase.
- - Read this at SGinvestors.io -
Bumitama Agri's 2H23 results
- Bumitama Agri (SGX:P8Z)'s 2H23 earnings came in at Rp1,321b (+30% h-o-h, +61% y-o-y), bringing 2023 core net profit to Rp2,336b (-25% y-o-y). This is well within our expectation, contributing 98% to our full year forecast.
- - Read this at SGinvestors.io -
- 2023 CPO production came in within guidance at 3% y-o-y, despite FFB production coming in at -4% y-o-y, below management's initial guidance of 0-5% y-o-y. This was mainly supported by its proactive management team increasing external FFB purchases to compensate for the lower internal FFB production. The higher CPO production is also supported by better oil extraction rate.
Higher external FFB milling margin despite higher external FFB purchases.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jacquelyn Yow Hui Li UOB Kay Hian Research | Leow Huey Chuen UOB Kay Hian | https://research.uobkayhian.com/ 2024-02-28
Read also UOB's most recent report:
2024-05-15 Bumitama Agri - 1Q24 Results Within Expectations.
Price targets by 3 other brokers at Bumitama Agri Target Prices.
Listing of research reports at Bumitama Agri Analyst Reports.
Relevant links:
Bumitama Agri Share Price History,
Bumitama Agri Announcements,
Bumitama Agri Dividends & Corporate Actions,
Bumitama Agri News Articles
