Kencana Agri’s Revenue Grows 34.5% in Q1

SGX-listed plantation firm Kencana Agri Limited booked revenues of US$39.46 million in the first quarter (Q1) of 2017, grew by 34.5% from US$28.8 million in the same period of 2016. The increase was mainly due to higher average selling price (ASP) of CPO despite a slight decrease in sales volume. ASP of CPO increased 33% from US$505 to US$674 whereas sales volume of CPO decreased approximately 7% from 50,264 MT in Q1 last year to 46,683 MT in Q1 this year.