No More Losses, State-Owned Plantation Holding Company Achieves Rp4.64 Trillion Profit
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State-Owned Enterprise (SOE) plantation holding company PTPN III (Persero) recorded revenue of Rp53.57 trillion with a consolidated profit of Rp4.64 trillion in 2021. This positive achievement is in stark contrast to the loss incurred in the previous year.
The holding company's revenue increased by 36% from Rp39.39 trillion in 2020. Meanwhile, the profit record is the opposite of the Rp1.14 trillion loss in the same year.
Debt restructuring is one of the reasons the holding company was able to improve its financial performance. This can be seen from the decrease in short-term liabilities in 2021.
In 2020, total short-term liabilities were recorded at Rp38.19 trillion. This liability decreased to Rp20.03 trillion in 2021.
The company's crude palm oil production successfully increased by 12.57% to 2.68 million tons in 2021. CPO productivity also increased by 7.51% to 4.83 tons per hectare.
"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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