IMQ, Jakarta - Plantation issuer, PT Mahkota Group Tbk. projected sales this year to reach Rp 5 trillion, or more than double the target last year.
The company's revenue target with the issuer code MGRO last year reached Rp2 trillion. The target is set in line with the completion of the new refinery plant in June.
"The refinery plant's contribution to sales will begin in July 2019. The new plant will produce CPO-derived products such as olein or cooking oil and sterin, as raw materials for margarine or oleochemicals," said Corporate Secretary of the Mahkota Group, Elvi, in Jakarta, Thursday (Thursday). 8/15).
According to Elvi, there are already quite a number of companies targeting the CPO business, resulting in quite fierce competition.
"To anticipate this, the company has begun targeting palm oil derivative products," she said.
In order to obtain higher profits, the company must create products with added value. In 2018, the company will reach Rp50 billion and this year's target is Rp123 billion.
In the context of launching cooking oil production in the second semester of 2019, the company has provided stock since the end of last year. The company slowed down CPO sales at the end of last year.
The value of the downstream project reaches Rp330 billion. The development funds came from bank loans and initial public offering (IPO) funds.
Source : http://www.imq21.com