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Japfa posts 91% fall in 1Q earnings on lower price environment

PC LeeThu, Apr 27, 2017 • 10:40 PM GMT+08 • 1 min read

Japfa posts 91% fall in 1Q earnings on lower price environment

SINGAPORE (April 27): Agri-food company Japfa reported a 91% drop in 1Q earnings to US$2.08 million ($2.9 million) from a year ago due to a lower price environment for its key markets.

Earnings per share fell to 0.12 US cent from 1.33 US cents a year ago.

This was despite a 3% increase in revenue to US$736.12 million.

The group's profitability was mainly impacted by the significantly lower selling prices for swine in Vietnam which started declining in the fourth quarter of 2016 due to China's import restrictions.

In addition, Indonesia witnessed weaker broiler selling prices in Q1 2017 due to a lower-than-expected poultry demand.

Shares of Japfa closed at 64 cents.

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