IndoAgri in the black for Q3 on stronger revenue, forex gains
Add BT as a preferred sourceSingapore
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.
TRENDING NOW
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
