Photo from Bumitama Agri
The company attributed the decline in low-cycle production.
SGX-listed Bumitama Agri saw its net profit decline 47.7% YoY to IDR647.37b ($57M) in the second half of FY22 (2H22).
In a bourse filing, the oil palm plantation company said 2H22 was a “period of normalising prices and low-cycle production anomaly due to intensifying extreme weather conditions,” resulting in lower net profit.
For the full year, however, the company’s net profit soared by 64.2% YoY IDR2.83T ($249.3M).
The full-year net profit translates to earnings per share of IDR1,618 ($0.14).
1 SGD = 11354.03 IRD
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