Singapore Stock Market News

Bumitama Agri - CPO price headwinds ahead

StockFanatic
Publish date: Thu, 14 Aug 2014, 10:12 AM
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2Q14 core earnings of Rp378.8bn (123% y-o-y) were better than expected

Y-o-y jump in earnings was driven by 29% y-o-y higher CPO ASP (blended) and 98% y-o-y jump in PK ASP

Forecasts, TP unchanged, as we expect lower ASP in subsequent quarters

HOLD call maintained for 3% upside and 1% dividend yield
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