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Japfa records 479.4% y-o-y jump in 9M20 earnings

The Edge Singapore
The Edge Singapore • 1 min read
Japfa records 479.4% y-o-y jump in 9M20 earnings
CEO Tan Yong Nang says that Covid-19 has accentuated the importance of food security and domestic production.
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Despite a slight dip in revenue, agriculture firm Japfa has reported strong earnings growth nearly five times that of the same nine-month period last year.

The company, which farms chickens, cows, pigs on a mass scale, experienced a slight y-o-y revenue dip of 2.5% to US$2.84 billion for the nine months to Sept 30.

However, with steady growth in its China-based dairy business and also its pig farms in Vietnam, Japfa reported earnings of US$130 million for the same period, up 479.4% y-o-y.

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