Recently-listed Japfa posts 10% decline in Q3 earnings

Singapore

INDONESIAN agri-food group Japfa Ltd said on Friday that its net profit was US$10.77 million for the third quarter ended Sept 30, 2014, down 10 per cent from US$11.99 million a year ago.

Earnings per share were 0.67 US cent, compared with 0.81 US cent a year ago.

If fair value changes of biological assets were to be excluded, the adjusted net profit was US$12 million for Q3 compared to US$12.4 million a year ago.

Japfa, controlled by Indonesia's Santosa family, breeds …