Bumitama Agri hits 2-year low on Q1 net profit drop

Bumitama Agri

08/05/2018 06:14

** Singapore-listed Bumitama Agri Ltd's shares  BUMI.SI 
fall as much as 3.62 pct to S$0.665, lowest since Jan. 29, 2016
    ** Bumitama posts Q1 net profit of IDR 274 billion, down
15.1 percent from a year ago  urn:newsml:reuters.com:*:nFWN1SE13Q
    ** Company said Q1 2018 revenue fell 9.1 pct to IDR 1,908
billion, mainly due to decrease in sale price of crude palm oil
and palm kernel by 7.6 pct and 21.5 pct respectively
    ** Bumitama said group anticipates improvement in production
volume in 2018
    ** About 0.405 mln shares change hands, compared with 30-day
average of 0.307 mln
    ** Stock down 7.38 pct this year as of Monday's close,
compared with a gain of 3.82 pct in Singapore's FTSE Strait
Times index  .STI 

 (harish.bhaskar.thomsonreuters.com@reuters.net)