PALM oil company Indofood Agri Resources reported a net profit of 174.6 billion rupiah (S$18.2 million), down 22.5 per cent from 225.4 billion rupiah a year ago.
Revenue fell 10 per cent to 3.78 trillion rupiah, from 4.2 trillion rupiah a year ago.
This was due to lower sales from both its plantations and edible oils and fats divisions.
The company also recorded a 19.9 billion rupiah loss arising from changes in fair value of biological assets compared to a 59.6 billion gain a year ago.
For the full year, net profit was down 92.4 per cent to 57.9 billion rupiah while revenue was down 7.5 per cent to 13.8 trillion rupiah.
A first and final dividend was declared but details will be announced in March. Last year, the dividend was S$0.0052 a share.
The company last traded at S$0.435 a share.