14/08/2012 (Channel News Asia) - Palm oil plantations operator Bumitama Agri posted an 8.3 per cent on-year rise in net profit to S$25.2 million for the second quarter ended June 30, 2012.

Revenue rose 19.3 per cent to S$109 million.

The Indonesian based, Singapore-listed company attributed the increase to higher sales volume of crude palm oil and gains on hedging transactions.

This was partially offset by a foreign exchange loss of about S$1.7 million, compared to a net gain of S$1.8 million in the previous year.

For the first half, net profit rose 4.7 per cent from a year earlier to S$50.03 million on a 17.5 per cent rise in group revenue.