SINGAPORE (Aug 12): Industrial agri-food company JAPFA has posted a nearly 15-fold gain in 2Q16 earnings to US$44.6 million ($60 million) from a year ago.

The increase driven largely by a 11% increase in revenue to US$782.1 million, as well as a 254% rise in foreign exchange gain and changes in fair value of biological assets.

Operating profit rose 144% to US$107.8 million from a year ago, while all business segments showed an improvement in revenue. This was mainly due to the improved poultry market from Indonesia operations in the animal protein segment and higher sales volumes across all business segments.

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