Palm Oil Company Owned By Conglomerate Peter Sondakh Earns Revenue Of IDR2.13 Trillion In The Third Quarter Of 2021

Illustration. (Photo: Wikimedia Commons)

JAKARTA - The palm oil plantation company owned by conglomerate Peter Sondakh, PT Eagle High Plantations Tbk (BWPT) posted double-digit revenue growth of 32 percent in the third quarter of 2021.

In BWPT's financial report, quoted on Sunday, November 14, the company managed to pocket revenue of Rp2.13 trillion until the third quarter of 2021. In the same period the previous year, revenue was Rp.1.61 trillion.

Director of BWPT Henderi Djunaidi, said that currently BWPT is at a turning point. According to him, the company's performance and performance has grown much better.

Operating profit was positive and increased by 191 percent yoy when compared to operating profit for the same period in 2020. Henderi is optimistic that BWPT's performance will continue to improve until the end of this year

In addition, Henderi continued, the company also continues to strive for cost control and efficiency. Accordingly, throughout 2021, the Company has succeeded in divesting several non-strategic subsidiaries.

"Thanks to this strategy, bank debt obligations have decreased significantly. The company's bank interest costs until the third quarter of 2021 have decreased by 24 percent compared to the same period in the previous year. Of course this has contributed positively to our balance sheet," he said in a written statement.

The efficiency efforts carried out by the company also continue to produce results. General and administrative expenses in the third quarter of 2021 managed to fall by 20 percent compared to the same quarter in the previous year.

The achievement of this solid performance and performance reflects the company's good strategy in running its business. The company's success in recording double-digit growth has the potential to continue its growth until the end of this year, especially in the final quarter.