Bisnis.com, JAKARTA — Palm oil companies are still looking at an upbeat outlook this year after ending Q1 with profit growth, despite recent policy headwind from the government’s decision to hike export levy on crude palm oil (CPO) from 7.5% to 10%, which had in turn caused export volume to decline.
Kiwoom Sekuritas cited several palm oil companies that reflects this trend, including PT Sawit Sumbermas Sarana (SSMS) with a Q1 net profit of IDR 341.5 billion and 23.3% year-on-year (YoY) growth, and PT Citra Borneo Utama (CBUT) with a net profit of IDR 41.21 billion and 28.8% YoY growth.
