Sampoerna Agro's 1Q Sales Up Sharply 377% Thursday, 17 April 2008 16:34:08
StockWatch (Jakarta) - Crude palm oil (CPO) producer PT Sampoerna Agro Tbk (SGRO) recorded sales of IDR845 billion in the period of January-March 2008, surging by 377% from IDR177 billion in the same period of 2007, on increase in prices of plantation commodities and the company's sales volume. BNI Securities' market analyst Asti Pohan said Sampoerna Agro's financial performance was supported not only by the company's revenue but was also due to lower interest expense and non-existence of expenses such as employees' compensations which the company had to pay in 2007. Sampoerna Agro's revenue climbed significantly during that period mainly because of CPO sales that reached IDR724 billion or surging by 386% from only IDR149 billion in the same period of 2007. At the same time, kernel sales rose sharply by 556% at IDR102 billion from IDR16 billion while sales of oilplam and rubber seeds grew by 48% and 93% each at IDR17 billion and IDR2 billion. Asti Pohan said in an analysis report on Thursday (17/4) in Jakarta, the company's EPS is projected at IDR305 in 2008 versus IDR114 in 2007, which implies an increase of 137%. Having the said EPS, the company's PER is projected at 12x or lower than the average PER of other companies of the same industry which is 22.5x. (yan/bw)
