Japfa reports 2.7 times growth in FY20 earnings of US$322.0 mil

Agri-food company Japfa saw its earnings more than double to US$322.0 million ($428.7 million) for the FY2020 ended December due to stronger performance of Swine-Vietnam and Dairy-China.

Core PATMI without forex increased 63.3% y-o-y to US$195.4 million driven by a strong performance from operations. The figure does not include an extraordinary net gain of US$140.2 million from the sale of Dairy-SEA.

Earnings per share (EPS) for the period came in at 15.86 US cents, from 6.45 US cents in FY2019.