Japfa’s strong bottom line in 1H FY20 has led analysts to keep their optimism on the agricultural producer.

This was despite a revenue decline on the back of lower poultry feed and day-old-chicks sales volumes in Indonesia.

“We think strong Vietnam swine and China raw milk prices would mitigate any near-term weakness in the Indonesia poultry segment,” CGS-CIMB Research analyst Cezzane See writes in a note dated July 30.

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