SINGAPORE (May 14): Japfa Holdings's earnings for 1Q20 ended March increased by 353.9% to US$35.5 million (S$50.3 million)  compared to US$7.8 million a year ago.

Revenue for the company grew 4.2% y-o-y to US$949.9 million, driven by all business segments – PT Japfa Tbk, Animal Protein Other (APO), Dairy, and Consumer Food.

Operating profit grew 47.1% y-o-y to US$87.1 million, on higher feed margins in Indonesia, strong swine fattening prices in Vietnam and strong raw milk prices in China.

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