Despite this, the company notes that there was a clear trend reversal in profitability — operating profit in 3QFY2023 ended September alone was a record US$101.8 million, arising from stronger margins in poultry feed as well as higher selling prices of both poultry in Indonesia and swine in Vietnam.
For 9MFY2023, Japfa’s operating profit stood at US$105.6 million while revenue declined 0.6% y-o-y to US$3.29 billion.
“As we navigate the ups and downs of the market, we remain focused on achieving our long-term goals and capture the growth potential for protein consumption in emerging Asia for the benefit of all our stakeholders,” says Japfa CEO Tan Yong Nang.
Shares in Japfa closed 0.2 cents higher or 1.08% up on Oct 31 at 18.6 cents.
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