30 June 2021

Plantation company PT Mahkota Group Tbk (MGRO) is expanding by producing two new products, namely palm kernel oil (PKO) and palm kernel expeller (PKE). Production and sales of these products have been running since April 2021.

Corporate Secretary of PT Mahkota Group Elvi explained, within one month of its release, these two products were recorded to play a role of 0.8 percent of the company's total sales volume.

“Until May 2021, the sales volume of the two products has reached 0.8 percent of the company's total sales volume,” Elvi said, Thursday (6/24/2021).

Elvi said, until now sales of PKO and PKE are still carried out locally, but the company is optimistic that sales of these products can penetrate the export market.

“Until now, sales are still made locally to customers and it is possible for the export market if there are benefits,” she added.

The launch of these two products is believed to be able to boost the company's turnover and net profit, considering that demand for palm products in the country and abroad is still high.

Meanwhile, based on the unaudited financial statements, in the first quarter of 2021 MGRO managed to book a company revenue of IDR 1.23 trillion. This amount increased significantly by 106.17 percent compared to the first quarter of 2020 (yoy).

However, the company still posted a loss of IDR 21.62 billion in the first quarter. This loss value was also recorded to have increased by 33.18 percent yoy. 

Source : https://sumatra.bisnis.com/read/20210624/534/1409800/mgro-keluarkan-produk-baru-kontribusinya-masih-08-persen