MAHKOTA GROUP (MGRO) REMAINS OPTIMISTIC ABOUT ACHIEVING PERFORMANCE TARGETS AT THE END OF 2018
19 December 2018
KONTAN.CO.ID - JAKARTA. PT Mahkota Group Tbk (MGRO) remains optimistic to gain positive performance until the end of 2018, even though the price of palm oil or Crude Palm Oil (CPO) is still fluctuating.
In today's trading, Monday (17/12), the price of the March 2019 CPO contract on the Malaysia Derivatives Exchange closed corrected by 0.79% to MYR 2,121 per ton. MGRO President Director, Usli Sarsi explained that his party had prepared a number of strategies to achieve targets at the end of 2018 and face fluctuations in world CPO prices.
“Our strategy is to continue to maintain smooth factory production, maintain production quality and strengthen the CPO transportation fleet to the holding tank at the port,” he explained to kontan.co.id, Sunday (16/12).
Usli also said that his party remains optimistic about achieving its revenue and net profit growth targets at the end of 2018. As for the end of this year, MGRO set a revenue growth target of 18% to IDR 2 trillion from IDR 1.7 trillion at the end of last year. While net profit is expected to reach IDR 50 billion at the end of this year. Whereas at the end of 2017 it still lost IDR 12.3 billion.
Meanwhile, in terms of production, Usli said that currently the company's CPO and Fresh Fruit Bunch (FFB) production until November has reached 90% of the set target. As for 2018, MGRO targets CPO and FFB production to increase 15% from the end of the previous year or the equivalent of 212,000 tons.
MGRO's revenue until the end of September was IDR 1.46 trillion, up 19% from the same period last year, IDR 1.23 trillion. In the third quarter period, MGRO cost of goods sold also rose 13% year on year (yoy) to IDR 1.29 trillion from IDR 1.14 trillion in September 2017.
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 total assets in September 2018 rose 8.3% to IDR 1.04 trillion from IDR 964.71 billion at the end of 2017.
Reporter : Krisantus de Rosari Binsasi
Editor : Yoyok