Japfa back in the black with Q2 profit of US$29.6m

Singapore

MAINBOARD-LISTED Indonesia agri-food firm Japfa Ltd posted a net profit of US$29.6 million for the second quarter ended June 30, a turnaround from its net loss of US$3.4 million in the year-ago period, it announced on Monday evening after the market closed.

Revenue rose 14 per cent to US$901 million from US$790.2 million, driven mainly by higher sales volume and improved margins in its Indonesia animal protein business and a recovery in its Vietnam market.