That, along with continued healthy profits from its Animal Protein Other (APO) division (11.3% y-o-y growth to US$20.7 million) and Dairy (12.3% y-o-y growth to US$26.5 million) segments, brought core net profit for 1QFy2021 to US$67.9 million, 36.1% higher than the previous year.
Analysts are upbeat on Japfa following its 1QFY2021 ended March results, which saw a 37% y-o-y increase in earnings to US$35.5 million, due to growth across all segments.
Revenue for the period gained 16% y-o-y to US$1.1 billion, while operating profit surged 78% to US$149.8 million. This was attributed to significantly better profit from the group’s poultry business in Indonesia, driven by higher feed margins (Japfa managed to pass on the higher cost of raw materials) and recovered prices of Indonesia’s day-old chick (DOC) and live bird segments.
