Plantation firm's profits up

Plantation firm's profits up

JAKARTA (JP): The state-owned PT Perkebunan (PTP) X-XXXI plantation company, which manages plantations in Lampung and South Sumatra, announced that its profits increased by 50 percent to Rp 83 billion (US$36.24 million) last year.

PTP X-XXXI is made up of PTP X and PTP XXXI, whose main commodities are rubber and sugar, respectively.

According to the Antara news agency, the profits of PTP X were Rp 73.6 billion last year and those of PTP XXXI were Rp 9.4 billion.

PTP X-XXXI manages 118,834 hectares of palm oil, rubber and sugarcane plantations as well as other food crops.

The company's production director, Matsohan Bidin, said favorable market prices increased sales of rubber and palm oil fruit from Rp 181.5 billion in 1993 to Rp 270.4 billion in 1995. (pwn)