BWPT - Expects a double digit net profit growth in 2024

BWPT - Expects a double digit net profit growth in 2024 Eagle High Plantations (BWPT) as one of Indonesia' crude palm oil (CPO) producers, is optimist and expects a double digit net profit growth in 2024. Moreover, based on the company' info, BWPT' fresh fruit bunches production grew 20% yoy in January 2024. This year, in order to boost its performance, BWPT' plans to build; 1) a CPO plant in East Kalimantan with a production capacity of 30 tons/hour, 2) a Kernel Crushing Plant (KCP) in Central Kalimantan, and 3) a biogas power plant (PLTbg), which is also in Central Kalimantan and as the company' commitment to ESG. Thus, BWPT has allocated around IDR300 bn for 2024' capex, which is to funds 3 projects as mentioned above. Note that, BWPT' 9M23 net profit grew significantly to IDR104.3 bn vs IDR15.44 bn net loss in 9M22, despite its 9M23 revenue was 6.42% yoy lower. As a result, BWPT still expects its FY23' net profit to grow double digit yoy. (Source : Kontan)