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.