"Until September 2020, PTPN IV posted net profits of Rp547.90 billion, higher than the net profits recorded during the corresponding period in 2019 and also above the target throughout 2020," Director of PTPN IV Sucipto Prayitno stated here on Wednesday.
Prayitno explained that during the corresponding period in 2019, PTPN IV had registered profits of Rp72.11 billion, while throughout 2019, it logged Rp312.82 billion.
"The growth in net profits until September was driven by an increase in PTPN IV's net income," he pointed out.
As of September 2020, PTPN's revenue had reached Rp4.25 trillion, or rising 30.36 percent, from Rp3.26 trillion recorded in 2019.
The growth in revenue and profit is attributed to the company's policy to channel attention on boosting productivity of palm fresh fruit bunches (FFB), palm oil yield, and palm kernel and supported by the increasing selling price of crude palm oil (CPO).
Prayitno pointed out that despite the ongoing COVID-19 pandemic, the company's performance had met expectations until now.
According to the PTPN IV director, the company believes that revenue in the fourth quarter of 2020 will also increase.
"This is since the profits are already above the target, and the revenue will continue to increase in the fourth quarter. Hence, the company is targeting Rp764.86 billion of net profits by the end of 2020," he stated.
Apart from focusing on boosting productivity and yield, the corporation has also implemented the core values of state-owned companies or BUMN: AKHLAK or Trustworthy, Competent, Harmonious, Loyal, Adaptive, and Collaborative.
In applying these collaborative core values, the employees of PTPN IV held virtual meetings termed the Yess Collaborative Program.
"Hence, without being asked and waited for, PTPN IV employees must be trustworthy, competent, harmonious, loyal, adaptive, and collaborative," he added.
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