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Sampoerna Agro Q1 profit falls YOY

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Sampoerna Agro Q1 profit falls YOY

PT Sampoerna Agro Tbk said its normalized net income for the first quarter came to 8.10 rupiah per share, a decrease of 68.3% from 25.53 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 15.31 billion rupiah, a decline of 68.3% from 48.25 billion rupiah in the year-earlier period.

The normalized profit margin dropped to 2.9% from 7.4% in the year-earlier period.

Total revenue fell 18.9% on an annual basis to 526.87 billion rupiah from 649.63 billion rupiah, and total operating expenses declined 11.4% on an annual basis to 475.71 billion rupiah from 536.90 billion rupiah.

Reported net income decreased 70.1% from the prior-year period to 16.57 billion rupiah, or 8.77 rupiah per share, from 55.42 billion rupiah, or 29.32 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.