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Japfa Q3 profit surges on stronger margins, fair value gain
JAPFA Ltd on Thursday posted a six-time jump in net profit for the third quarter on stronger margins, and a gain in fair value of biological assets.
The agri-food company said that net profit for the three months ended Sept 30, 2016 stood at US$48 million, compared to US$7.99 million a year ago.
Gross profit shot higher by 35 per cent to US$187 million, as revenue growth outpaced that of cost. It also made a US$5.75 million gain from changes in fair value of biological assets. In the year-ago period, Japfa recorded a fair-value loss for its biological assets.