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IndoAgri reports 65.4% fall in 4Q earnings to $8 mil on lower sales volume of palm products

PC Lee
PC Lee2/28/2018 07:05 AM GMT+08  • 2 min read
IndoAgri reports 65.4% fall in 4Q earnings to $8 mil on lower sales volume of palm products
SINGAPORE (Feb 28): IndoAgri, the agribusiness group and manufacturer of edible oils and fats products, reported a 65.4% fall in 4Q17 earnings to $8 million from a year ago on lower contribution from the plantation division and on the absence of the one-o
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SINGAPORE (Feb 28): IndoAgri, the agribusiness group and manufacturer of edible oils and fats products, reported a 65.4% fall in 4Q17 earnings to $8 million from a year ago on lower contribution from the plantation division and on the absence of the one-off gain in 4Q16.

4Q17 revenue fell 15.7% to $369 million from a year ago as its plantation division reported a 10% revenue decline in 4Q17 on lower sales volume of palm products of crude palm oil and palm kernel-related products and lower sugar sales.

For the FY17, earnings fell 11.7% to $46 million from $52 million a year ago.

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