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Cooking oil prices in the market have soared since the beginning of the year. Has this high price had a positive impact on cooking oil producing companies listed on the stock exchange?
At least three cooking oil producing companies are listed on the Indonesia Stock Exchange (IDX). These three companies are PT Sinar Mas Agro Resources and Technology Tbk (SMAR), PT Salim Ivomas Pratama Tbk (SIMP), and PT Tunas Baru Lampung Tbk (TBLA).
SMAR recorded the highest revenue growth, increasing by 56.6% (year-on-year/yoy) to Rp17.38 trillion in Q1 2022. In Q1 2021, this Filma cooking oil producer recorded revenue of Rp11.1 trillion.
Next, TBLA, which produces Rose Brand cooking oil, saw revenue grow by 10.3% (yoy) to Rp3.85 trillion. TBLA recorded revenue of Rp3.49 trillion in the same period last year.
Meanwhile, SIMP, a producer of Bimoli-branded cooking oil, recorded a 14% (yoy) decrease in revenue to Rp4.04 trillion from Rp4.7 trillion.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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