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IndoAgri 1H earnings more than double to $28 mil on recovery in palm production

PC Lee
PC Lee7/28/2017 7:13 AM GMT+08  • 2 min read
IndoAgri 1H earnings more than double to $28 mil on recovery in palm production
SINGAPORE (July 28): IndoAgri, the integrated agribusiness group, reported 2Q17 more than tripled to $10 million from $3 million a year ago while 1H17 earnings more than doubled to $28 million from $13 million.
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SINGAPORE (July 28): IndoAgri, the integrated agribusiness group, reported 2Q17 more than tripled to $10 million from $3 million a year ago while 1H17 earnings more than doubled to $28 million from $13 million.

IndoAgri says the improved 2Q and 1H performance was attributed a strong recovery in palm production and improved contribution from CMAA, its sugar JV in Brazil, in addition to higher average selling prices of agriculture crops.

EBITDA up 77% y-o-y in 1H17 on higher contribution from Plantation Division and improved results from associates CMAA.

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