Jakarta - PT Dharma Satya Nusantara Tbk (DSNG) posted net profit growth of around 110% in the first quarter of 2022 to Rp 209 billion, supported by higher crude palm oil prices and better performance from the wood products segment.

"During the first three months of this year, the average price of DSNG CPO reached Rp. 10.6 million per ton, up 22% from the same period last year," said DSNG Corporate Secretary Paulina Suryanti in a news release in Jakarta on Thursday (4/28).

Furthermore, the company's sales value was recorded at Rp1.64 trillion, higher than the same period last year, but the contribution from the palm oil segment decreased from 83% to 75% due to a decrease in sales volume of CPO and PKO.

DSNG's palm oil business segment posted an 8% lower sales value to Rp1.24 trillion due to a 28% decrease in CPO sales volume to 97 thousand tons.

In terms of profitability, DSNG recorded higher EBITDA and profit margins in the f