Astra Agro's profit falls

Tue, 25 Oct 2005 | Source: AP

JAKARTA: PT Astra Agro Lestari, Indonesia's biggest publicly traded plantations company, said its nine-month profit fell 11 percent after palm-oil prices declined.

Net income fell to Rp 589.1 billion (US$59 million), or Rp 374 a share, in the period ending on Sept. 30 from Rp 664.7 billion, or Rp 425, a year earlier, the company said in a statement to the Jakarta Stock Exchange on Monday. Sales fell 8 percent to Rp 2.42 trillion.

The average price of palm-oil futures on the Malaysian Derivative Exchange for the three month period ending on Sept. 30 was 1,294 ringgit (US$343) a metric ton compared with 1,452 ringgit in the same period last year, according to Bloomberg data.

Astra Agro's crude palm-oil output rose to 622,396 tons in the first nine months this year, from 574,816 tons in the year earlier period. -- Bloomberg

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