IndoAgri's Q1 net profit rises 70% to 182b rupiah

Singapore

A RECOVERY in agri-commodity prices and foreign currency gains pushed Indofood Agri Resources' net profit 70 per cent higher in the first quarter.

Its net profit rose to 182 billion rupiah (S$20 million), up from 107 billion rupiah a year ago. This translated into earnings per share of 1.4 Singapore cents, compared to 0.8 cent last year.

Revenue climbed 2.4 per cent to 3.17 trillion rupiah.

The palm oil, rubber and sugar firm recorded a foreign exchange gain of 85.7 billion rupiah, compared to a loss of 3.7 billion rupiah last year. This was partially offset by a 62.1 per cent drop in other operating income to 22 b…