fresh fruit bunches (FFB)

RHB still expects Golden Agri to post a strong earnings recovery in FY2021.

Despite a 14.4% increase in revenue for the period, gross profit fell by 6% y-o-y to IDR507.1 mil.

For the FY2020, earnings surged 64.1% to IDR1.13 trillion, from IDR686.31 million a year ago.

SINGAPORE (May 13): Stronger crude palm oil (CPO) prices and lower unit costs have enabled Bumitama Agri’s 1Q FY20 results to exceed analyst expectations.

SINGAPORE (May 8): Bumitama Agri (BAL) reported a 16.8% decline in 1Q earnings to IDR231.8 billion ($21.7 million) from IDR278.4 billion on lower revenue and compressed margins.

SINGAPORE (Nov 15): RHB is maintaining its “neutral” call on First Resources with a target price of $2.13, based on an unchanged FY18F P/E multiple of 13 times, in line with its five-year historical average. This implies an equity value per hectare (E

SINGAPORE (May 15): Bumitama Agri reported 1Q earnings of IDR 278.4 billion ($29.3 million), 21.4% higher than the same quarter a year ago.

SINGAPORE (July 28): UOB is maintaining its “buy” call for Indonesia-based palm oil plantation First Resources (FR), with a target price of $2.00.

SINGAPORE (July 22): UOB Kay Hian is reiterating its “buy” recommendation on Bumitama Agri (BAL) with a lower target price of $1.25 from $1.30 previously.