Currency woes overshadow Bumitama's revenue rise in 1Q24

Net profit for the period fell 23.5% YoY to IDR 328.4b.

Despite higher revenue, Bumitama Agri’s 1Q24 net profit dropped 23.5% YoY and 15.1% QoQ to IDR 328.4b.

Revenue for the period was IDR3.87t, up 8% YoY on the back of rising volume. Crude palm oil (CPO) sales comprised 91% of total revenue for the period, while palm kernel made up 9%.

The company attributed its lower net profit to the "strengthening US Dollar effect” due to the Fed's higher-for-longer rates.

Excluding the forex loss of 1Q24 versus the gain in 1Q23, core earnings spiked 23% YoY to IDR 373.69b.

Follow the link for more news on

Financial Statements

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia