IndoAgri in the black for Q3 on stronger revenue, forex gains
Singapore
AGRIBUSINESS group Indofood Agri Resources (IndoAgri) reversed its fortunes and turned a profit for the third quarter (Q3 2016), thanks to stronger revenue and forex translation gains.
The group on Friday posted net profit for the three months ended Sept 30 of 159 billion rupiah (S$16.9 million), which was led by increased profits from operations, and partly offset by higher effective tax. This compared to a net loss of 213 billion rupiah one year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly