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IndoAgri's 3Q earnings down 37% to $10.1 mil on higher expenses and forex

PC Lee
PC Lee10/27/2017 7:8 AM GMT+08  • 2 min read
IndoAgri's 3Q earnings down 37% to $10.1 mil on higher expenses and forex
SINGAPORE (Oct 27): IndoAgri, the manufacturer of edible oils and fats products, reported a 37% decline in 3Q17 earnings of Rp101 billion ($10.1 million) from Rp159 billion a year ago.
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SINGAPORE (Oct 27): IndoAgri, the manufacturer of edible oils and fats products, reported a 37% decline in 3Q17 earnings of Rp101 billion ($10.1 million) from Rp159 billion a year ago.

This came on the back of lower gross profit arising from higher fertiliser application, higher operating expenses and foreign currency fluctuations.

3Q17 revenue increased 5% to Rp3.7 trillion on higher sales contribution from the plantation division. Its Plantation Division achieved a 3% revenue growth in 3Q17 on higher sales volume of palm products, but partly offset by lower selling prices of palm products and lower sugar sales.

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