May 3, 2021
Japfa reports 36.9% increase in Q1 net profits
Regional agri-food company Japfa posted a 36.9% increase in its first quarter net profits this year at US$35.5 million across all its segments, despite the COVID-19 pandemic and an outbreak of African swine fever (ASF) affecting some of its markets, the Singapore Business Review reported.
The company's Indonesia-based poultry segment, PT Japfa Tbk reported a 15.2% increase in revenue amidst government-imposed movement restrictions due to COVID-19, helped by the country's culling measures that balanced supply and demand for poultry.
The company's Vietnam swine operations reported a 24.7% higher revenue because of higher swine fattening sales volumes. The operations in Vietnam was able to contain ASF by maintaining strict biosecurity protocols and restock faster than the competition.
It's Myanmar livestock feed segment however, reported an operating loss because of political issues in the country. It's India livestock feed segment broke even, even though India is facing its worst COVID-19 situation currently.
Japfa's dairy segment reported revenues up 6.9% thanks to higher dairy and beef sales volumes.
- Singapore Business Review