31 October 2018

KONTAN.CO.ID - JAKARTA. Palm oil processing company PT Mahkota Group Tbk ( MGRO ) has successfully reversed the fortunes of its financial performance. The company posted a profit in its third quarter 2018 financial report.

Citing the company's financial report announced Monday (29/10), Mahkota Group's revenue at the end of September was IDR 1.46 trillion, up 19% from the same period last year, IDR 1.23 trillion.

Mahkota Group's revenue was supported by CPO sales of IDR 1.1 trillion. Kernel sales contributed IDR 267.77 billion. Tank rental services and management services contributed IDR 50.70 billion and IDR 900 million, respectively.

Meanwhile, sales of shells and ash contributed IDR 38.76 billion and IDR 4.78 billion, respectively.

Then solid and tankos sales contributed IDR 169.83 million and IDR 94.09 million, respectively. Meanwhile, sales of fiber, boilers and others contributed IDR 215.96 million, IDR 47.32 million and IDR 82.51 million, respectively.

In the third quarter period, MGRO's cost of goods sold also rose 13% year on year (yoy) to 1.29 trillion from IDR 1.14 trillion in September 2017.

However, Mahkota Group managed to cut other financial expenses, collect other income, and pocket foreign exchange gains.

As a result, in the third quarter of 2018, Mahkota Group posted a profit of IDR 45.41 billion, from previously suffering a loss of IDR 17.27 billion.

MGRO's total assets in September 2018 rose 8.3% to IDR 1.04 trillion from IDR 964.71 billion at the end of 2017.

MGRO's liabilities fell 23% to IDR 423.65 billion from IDR 550.19 billion at the end of 2017.

MGRO's equity rose 50% to IDR 622.07 billion in September 2018 from IDR 414.51 billion at the end of 2017.​

Reporter : Krisantus de Rosari Binsasi
Editor : Sanny Cicilia

Source : https://investasi.kontan.co.id/news/mahkota-group-akhirnya-menikmati-laba-di-akhir-kuartal-iii-2018