The results were impacted by a “global challenging environment” where high raw material costs and limited increases in average selling prices (ASPs) impacted margins. Costs of agricultural commodities increased to record levels in 2022 while the increases in ASPs were constrained by lower consumer purchasing power.
Japfa (SGX:UD2
) has reported a loss of US$35.9 million ($48.2 million) for the 2HFY2022 ended Dec 31, 2022, down from the earnings of $321,000 in the same period the year before.
This brings the group’s FY2022 earnings to US$8.2 million, 93% lower y-o-y.
