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IndoAgri posts 91.3% lower earnings of $0.8 mil on weak plantation division results

Michelle Zhu
Michelle Zhu10/31/2018 07:31 AM GMT+08  • 2 min read
IndoAgri posts 91.3% lower earnings of $0.8 mil on weak plantation division results
SINGAPORE (Oct 31): Indofood Agri Resources (IndoAgri) reported earnings of Rp8.8 billion ($0.8 million) for the 3Q ended Sept, representing a 91.3% plunge from its 3Q17 earnings of Rp100.5 billion a year ago.
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SINGAPORE (Oct 31): Indofood Agri Resources (IndoAgri) reported earnings of Rp8.8 billion ($0.8 million) for the 3Q ended Sept, representing a 91.3% plunge from its 3Q17 earnings of Rp100.5 billion a year ago.

The group attributes this quarter’s poor performance mainly to a fall in sales and profit in its plantation division, weak commodity prices and higher crude palm oil (CPO) stock, as well as forex impacts due to the weakening of the Indonesian rupiah.

Revenue for the quarter remained steady at Rp3.7 trillion, buoyed by a strong 3Q performance in the edible oils & fats (EOF) division that partly offset the fall in contributions from plantation.

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