Ghana: BOPP’s earnings continue to benefit from higher CPO prices

게시됨 2021년 2월 9일

Tridge 요약

Benso Oil Palm Plantation (BOPP) saw a significant revenue growth of 29.5% in 2020, reaching GH¢123.82 million, driven by higher palm oil prices due to increased demand from China and India, and production squeezes in key countries because of labor shortages caused by the COVID-19 pandemic. The price of Crude Palm Oil and Palm Kernel Oil also surged by 33.1% and 26.3% respectively. Despite a 16.6% increase in operating expenses, the growth was less than revenue growth, leading to a reduction in the operating expense ratio to 9.0% in 2020. This resulted in a substantial increase in profit before and after tax in 2020. The company anticipates global palm oil prices to remain strong in 2021 due to weak production and robust demand, especially from China and India.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Benso Oil Palm Plantation (BOPP) has reported a topline growth of 29.5%, against 20.9% in the same period of 2019, to GH¢123.82 million in 2020 on the back of higher palm oil prices emanating from increased demand from China and India as well as production squeeze arising from labor shortages in key producing countries in the midst of the COVID-19 pandemic. Commodity data from the World Bank shows that the price of Crude Palm Oil (CPO) rose by 33.1% to US$ 1,016.37 per MT in 2020 while that of Palm Kernel Oil was up by 26.3% to US$ 1,224.87 per MT. Although operating expenses grew by 16.6% in 2020, compared to 2.2% in 2019, to GH¢11.19 million in FY2020, the growth was still below revenue growth. This helped to reduce the operating expense ratio (operating expenses/revenue) by 100bps to 9.0% in 2020 from 10.0% in 2019. BOPP’s profit margins were enhanced by the rise in revenue plus the drop in the operating expense ratio. Profit before tax jumped by 124.8% to GH¢ 29.39 ...

출처: Ghanaweb