JAKARTA. Foreign investors consistently buy up shares in PT Perusahaan Perkebunan London Sumatra Tbk (LSIP), an oil palm plantation issuer belonging to the Salim Group, amid falling prices that have taken place in the last month.

According to idnfinancials.com’s data, the LSIP share price fell 14.23% or 175 points to IDR 1,055 per share, as of the close of trading last Thursday (28/11). However, since the beginning of this year, LSIP's share price has shown an increase of 18.54% or 165 points.

The decline in LSIP shares received attention from foreign investors, with fairly consistent net buying (foreign net buy) recorded since the beginning of this month. The total net foreign buy of LSIP shares since the beginning of this year was recorded at 45.03 million shares.

From a fundamental perspective, LSIP posted revenues of IDR 2.92 trillion in the first nine months (9M) of 2024. LSIP's revenues in this period tended to stagnate, due to a decrease in sales volume. However, this was offset by an increase in the average selling price of palm oil products.

This revenue achievement supports LSIP's net profit performance which reached IDR 803 billion in 9M 2024, growing 76% year-on-year (yoy).

Palm oil products will still be the main contributor to LSIP's revenue in 9M 2024, with a contribution of 94% of total revenue. Revenue from rubber products was recorded at 3%, seeds 1%, and other products 2%. (KR/LM)