This Palm Oil Company Owned By Conglomerate TP Rachmat Earns Revenue Of IDR 3.3 Trillion And Profit Of IDR 213 Billion In Semester I 2021

Illustration. (Photo: Pixabay)

JAKARTA - PT Dharma Satya Nusantara Tbk (DSNG) posted an increase in performance in the first six months of this year. This palm oil issuer's revenue and profit grew in the first semester of 2021.

DSNG President Director, Andrianto Oetomo, said the increase in crude palm oil (CPO) prices was still the main driver for improving the company's financial performance.

"The average selling price of DSNG CPO during the first six months of this year reached IDR 8.4 million per ton, an 8 percent increase compared to the same period last year", Andrianto said in a written statement, quoted on Friday, August 27.

In the DSNG financial report, it is stated that the company owned by the conglomerate TP Rachmat earned a net profit of IDR 213 billion in the first semester of 2021, an increase of 19 percent on an annual basis. This was driven by DSNG's revenue of IDR 3.3 trillion in the first semester of 2021, an increase of 5 percent year on year (YoY).

Of the total sales, the palm oil business segment contributed IDR 2.7 trillion or around 82 percent. Compared to the first semester of last year, the sales value of palm oil still experienced an increase of 2 percent.

In fact, DSNG's CPO sales volume in the first semester of 2021 fell 10 percent to 279,000 tons due to a decrease in fresh fruit bunches (FFB) production as a continuation of El Nino and the emergence of La Nina.

Adrianto added that the improvement in DSNG's financial performance was also driven by performance growth in the wood product business segment, both panels, and engineered flooring.

"This is in line with the improving economy in export destination countries, including the United States, Canada, and Japan, although the COVID-19 pandemic is not over yet", said Andrianto.

Sales from the DSNG wood product business segment in the first semester of 2021 rose 20 percent on an annual basis to IDR 589 billion. This growth was driven by an increase in panel sales volume by 9 percent to 52,000 m3 and engineered flooring sales volume by 30 percent to 524,200 m2 compared to the first semester of last year.