According to the company, key catalysts for this improvement were feed, which consistently delivered profits with stable margins across its major markets; higher poultry and swine selling prices during Ramadhan in Indonesia and Tết in Vietnam, which revitalised demand; and streamlining initiatives introduced in early 2023, which have proven effective in lowering production costs across poultry and swine operations in Vietnam.
Agri-food company Japfa (SGX:UD2
) has swung back into profit, with patmi of US$12.4 million ($16.93 million) for 1QFY2024 ended March 31, compared to a net loss attributable to owners of some US$43.0 million this time last year.
Core patmi without foreign exchange impact would have been higher at US$13.4 million, while ebitda surged more than 4,000% y-o-y to US$99.2 million during the quarter, up from just US$2.3 million in 1QFY2023 last year.
