SINGAPORE (Oct 27): Japfa, the Indonesia-based supplier of animal protein, saw a sixfold jump in 3Q earnings to US$48 million ($67 million) from US$8 million a year ago on higher sales and margins.
The 13.3% rise in revenue to US$788 million and higher operating profit margin of 13.4% led to a 60.1% increase in operating profit of US$105.4 million. EBITDA rose by 45.5% to US$130.6 million.
In August, global investment firm KKR’s US$81.9 million-investment in PT Japfa was completed, resulting in a reduction in its ownership of PT Japfa from 58% to 51%.
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