Plantation firm Bakrie Sumatera Plantations (UNSP) booked revenues of Rp414 billion in the first quarter (Q1) this year, grew 24% from Q1 last year. Crude palm oil (CPO) contributed Rp253 billion revenues while rubber contributed Rp161 billion. The peak harvest for CPO actually occurs in Q2. UNSP’s CPO price (FoB Malaysia) declined to US$660 per ton in March, from US$720 in January. UNSP booked operating profit of Rp117 billion in Q1, against loss Rp48 billion in Q1 last year. The Company targets to complete its debt-to-equity conversion this year.
