ANJ Records Income Growth Driven by CPO and PKO Performance

Palm Oil Magazine
Doc. Sawit Fest 2021 / Pranis Fanjaya

PALMOILMAGAZINE, JAKARTA – PT Austindo Nusantara Jaya Tbk., (ANJT), experienced a noteworthy surge in earnings during the second quarter of 2023, achieving a remarkable 25.6% increase to US$ 63.9 million in contrast to the first quarter’s US$ 50.9 million.

This upswing in income was driven by enhanced trading performance in crude palm oil (CPO), palm kernel (PK), and palm kernel oil (PKO) during the period. As a result of this positive performance, ANJ effectively curtailed its net loss by a significant 72.4% quarter-to-quarter, reducing it to US$ 1.1 million in the second quarter of 2023, in contrast to the US$ 3.9 million reported in the preceding quarter.

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Director of Finance, ANJ, Nopri Pitoy said the second period of 2023 financial and operational performances in ANJ got better by having increasing fresh fruit bunch (FFB) production. “We predict the positive production since in the beginning of this year would go on and increase in the second semester this year. The plantations would get peak production in the third quarter and the productive plantations get wider,” Nopri said, as in the official statement to Palmoilmagazine.com, Tuesday, (1/8/2023).

Also Read: MIDF Research Predicts CPO Can Be Cheaper in July

The increasing production is the same with balance strategy of the plantation ages through replanting program that ANJ massively has done in the past few years. “As the result of our commitment, we have done replanting program in North Sumatera and Belitung Island, developed infrastructures in Southwest Papua. We know the positive trend is on the track to get new achievement in FFB production in 2025, just the same with the corporate’s targets,” Nopri said.

He continued, cheaper CPO selling price in the second quarter of 2023 that reached up to the lowest level since November 2020 is the impact of our FFB production that got higher and other vegetable oil that gets cheaper  when economic recession would happen globally and other vegetable oil production, such as, soyoil, would be increasing.

These led our total income decreased by the late of June 2023 to be US$ 114,8 million, or decreased 20,4% compared to the same period last year,” Nopri said. (T2)

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