05 November 2021

PT Mahkota Group Tbk (MGRO) is optimistic that it can maintain its performance until the end of this year in line with the positive outlook for crude palm oil (CPO) prices and optimal production capacity efficiency.

MGRO Corporate Secretary Elvi said that her party is optimistic that it can maintain financial performance until the end of the year. This is in line with the company's efforts to increase production capacity and continue to look for low-cost raw materials.
 
“We always optimize our production capacity effectively and efficiently, look for many and cheap sources of raw materials, and try to open new market shares,” he said when contacted by Bisnis on Monday (1/11/2021).

The company's optimism is also based on the positive trend of CPO prices. He predicts that the opportunity to increase CPO prices is still open until the end of the year in line with the decline in production from producing countries and the increasing world demand.

Furthermore, MGRO will also continue to look for new export markets until the end of the year. However, this depends on the number and countries that make requests.

“MGRO's target is that export sales can reach up to 50 percent of total sales,” he said.

Based on the company's financial statements, Monday (1/11/2021), MGRO recorded a net profit attributable to owners of the parent entity of IDR 49.50 billion. This amount is inversely proportional to the net loss of IDR 37.11 billion in the same period last year.

The company also managed to book revenue of IDR 4.76 trillion in the third quarter of 2021. This amount increased by 88.14 percent year on year (yoy) when compared to revenue in the third quarter of 2020 of IDR 2.53 trillion.

MGRO's revenue was dominated by sales of crude palm oil and its derivatives to third parties amounting to IDR 4.35 trillion, up when compared to the third quarter/2020 record of IDR 2.11 trillion. Palm kernel sales became the second largest contributor to revenue worth IDR 319.63 billion.

Following behind the two segments were sales of crude palm oil to related parties amounting to IDR 161.29 billion, up significantly compared to the record in the third quarter of 2020 of IDR 56.55 billion.
 
Source : https://market.bisnis.com/read/20211101/192/1460588/pertahankan-kinerja-cemerlang-begini-strategi-mahkota-group-mgro