Profit Up at London Sumatra on Higher Production, Sales

Jakarta Globe

Net income at PP London Sumatra Indonesia, the country’s second-largest listed plantation company, rose 65 percent to
Rp 1.70 trillion ($187 million) last year from Rp 1.03 trillion in 2010 on rising production and sales.

Revenue increased 30.4 percent to Rp 4.69 trillion last year from Rp 3.59 trillion in 2010, according to a company filing with the Indonesia Stock Exchange (IDX) on Wednesday. Crude palm oil sales last year rose 22.8 percent to 432,936 tons, it said.

Shares of London Sumatra rose 3.92 percent to Rp 2,650 on the IDX on Wednesday. The shares have gained 21.8 percent so far this year.