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IndoAgri swings back to profitability in 3Q on biological assets and forex gains

PC Lee
PC Lee10/28/2016 07:42 AM GMT+08  • 2 min read
IndoAgri swings back to profitability in 3Q on biological assets and forex gains
SINGAPORE (Oct 28): IndoAgri, the diversified and integrated agribusiness group, swung back to profitability in 3Q with earnings of IDR 159 billion ($16 million) from a restated loss of IDR 213 billion a year ago on higher sales and biological assets and
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SINGAPORE (Oct 28): IndoAgri, the diversified and integrated agribusiness group, swung back to profitability in 3Q with earnings of IDR 159 billion ($16 million) from a restated loss of IDR 213 billion a year ago on higher sales and biological assets and foreign currency gains.

This also resulted in a reversal of 9M losses to earnings of IDR 284 billion.

Revenue grew 8.7% to IDR 3.6 trillion from a restated IDR 3.3 trillion a year ago, recovering from higher commodity prices and higher edible oil sales, despite weaker production from the effects of El-Nino in 2015.

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