Japfa Q3 profit surges on stronger margins, fair value gain
JAPFA Ltd on Thursday posted a six-time jump in net profit for the third quarter on stronger margins, and a gain in fair value of biological assets.
The agri-food company said that net profit for the three months ended Sept 30, 2016 stood at US$48 million, compared to US$7.99 million a year ago.
Gross profit shot higher by 35 per cent to US$187 million, as revenue growth outpaced that of cost. It also made a US$5.75 million gain from changes in fair value of biological assets. In the year-ago period, Japfa recorded a fair-value loss for its biological assets.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama