PT MAHKOTA GROUP TBK (MGRO) FIRST SEMESTER OF 2021, MGRO REVENUE JUMPED 106,6 PERCENT
30 July 2021
MEDAN - North Sumatra-based plantation company PT Mahkota Group Tbk (MGRO) recorded revenue of IDR 2.65 trillion in the first semester of 2021. This value increased by 106.67 percent compared to the same period in 2020 of IDR 1.28 trillion.
Corporate Secretary of Mahkota Group Elvi said this year the company set a sales target of IDR 6 trillion. Thus, until the first semester of 2021 MGRO's revenue reached 44.27 percent of the target.
Meanwhile, the current year's profit recorded by the company was IDR 2.68 billion in the first semester of 2021 or only reached 1.79 percent of the annual target of 2.5 percent-5 percent of the company's revenue.
In terms of sales quantity, Elvi explained that the increase in sales of MGRO products was dominated by exports of Refined Bleached Deodorized Palm Oil (RBDPO) products.
“RBDPO export sales as of 30 June 2021 amounted to 70,999 tons. An increase of 1,981.47 percent compared to 30 June 2020 of 3,411 tons,” Elvi said on Friday (30/7/2021).
Local sales of RBDPO also increased significantly to 39,001 tons, up 1,345.55 percent from 2,698 tons.
This year MGRO also released two new products, namely palm kernel oil (PKO) and palm kernel expeller (PKE). Total sales of the two products were 2,902 tons.
In total, MGRO's palm product sales volume was 233,969 tons, dominated by local sales at 69 percent of sales volume.
“Total local sales as of 30 June 2021 were 162,053 tons or 69 percent of sales. Total export sales were 71,916 tons,” Elvi added.
Meanwhile, there are four main export destinations for MGRO palm products, namely Malaysia, South Korea, India and Egypt.