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Sampoerna Agro Q4 profit climbs 51.5% YOY

PT Sampoerna Agro Tbk said its normalized net income for the fourth quarter was 35.50 rupiah per share, an increase of 53.9% from 23.07 rupiah per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 66.07 billion rupiah, a gain of 51.5% from 43.60 billion rupiah in the prior-year period.

The normalized profit margin climbed to 7.7% from 5.7% in the year-earlier period.

Total revenue grew 12.9% on an annual basis to 857.60 billion rupiah from 759.50 billion rupiah, and total operating expenses increased 6.7% from the prior-year period to 738.15 billion rupiah from 691.98 billion rupiah.

Reported net income increased 78.9% year over year to 52.62 billion rupiah, or 28.27 rupiah per share, from 29.42 billion rupiah, or 15.57 rupiah per share.

For the year, the company's normalized net income totaled 127.08 rupiah per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 133.97 rupiah.

EPS declined 22.3% from 163.57 rupiah in the prior year.

Normalized net income was 239.27 billion rupiah, a decrease of 22.6% from 309.14 billion rupiah in the prior year.

Full-year total revenue decreased 7.5% from the prior-year period to 2.999 trillion rupiah from 3.242 trillion rupiah, and total operating expenses declined 6.7% year over year to 2.491 trillion rupiah from 2.670 trillion rupiah.

The company said reported net income decreased 27.2% on an annual basis to 247.57 billion rupiah, or 131.49 rupiah per share, in the full year, from 340.26 billion rupiah, or 180.03 rupiah per share.

As of March 29, US$1 was equivalent to 13,367.50 rupiah.