Astra Agro's profits fall

JAKARTA (JP): Publicly listed plantation company Astra Agro Lestari recorded a consolidated net income of Rp 121.1 billion (US$17.3 million) in the third quarter which ended in September, a 19.6 percent drop from Rp 150.6 billion in the corresponding period last year.

The company said on Wednesday the drop was partly attributed to the decline in the price of crude palm oil (CPO) and the increase in production costs during the period.

Astra Agro Lestari said net sales rose 11 percent to Rp 639.3 billion as of September, compared to Rp 575.8 billion in the same period last year.

The increase in the sales was particularly due to a 44.1 percent surge in CPO production to 227,170 tons, up from 157,695 tons in the same period last year. (cst)