Indofood Agri Resources reverses into deep loss in Q4

Singapore

INDOFOOD Agri Resources has recorded a net loss of 211.70 billion rupiah (S$20.4 million) for the fourth quarter to Dec 31, sinking into the red from a net profit of 76.94 billion rupiah the year before.

This was mainly due to the fall in sales and profit in its plantation division arising from weak commodity prices, partly offset by strong performance in the edible oils and fats (EOF) division, the mainboard-listed company said in a regulatory filing. Loss per share (LPS) was 151.7 rupiah per share, from earnings per share (EPS) of 55.1 rupiah the year before.